Recommends Archives - The Loadstar

Seven-week strike at Boeing finally ends

Alex Lennane — Tue, 05 Nov 2024 13:41:37 +0000

The seven-week strike at Boeing, that has exacerbated its already challenging production schedules, has finally come to a close. While airlines will be relieved, not everyone is happy, reports AP. “We were threatened by a company that was crippled, dying, bleeding on the ground, and us as one of the biggest unions in the country couldn’t even extract two-thirds of our demands from them. This is humiliating,” said one worker.
Nevertheless, ...

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Houthis earn $2bn a year from Red Sea protection racket

Gavin van Marle — Tue, 05 Nov 2024 13:23:51 +0000

If you harbour any hope that the Red Sea crisis might come to an end soon, The Loadstar respectfully suggests you should abandon it, as this extraordinary report in the Maritime Executive claims the Yemini militia group is earning around $180m a month in tolls from shipowners to not attack their vessels as they pass the Bab Al-Mandeb straits. The source of the article is a 537-page report from the ...

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ATSG set to be acquired by Stonepeak

Alex Lennane — Mon, 04 Nov 2024 12:59:32 +0000

ATSG could follow in the footsteps of rival Atlas Air and delist, following news that it is to be acquired.
Reuters has reported that investor Stonepeak is in “advanced” talks to buy the airline and leasing group for some $3.1bn, including debt, or $22.50 per share.
ATSG is due to report third-quarter earnings on Friday, but its Q2 results saw a pre-tax loss of $7m after fewer aircraft leases. Stonepeak last year ...

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Bahri still on lookout for large forwarder M&A targets

Alex Lennane — Tue, 29 Oct 2024 11:59:58 +0000

Bahri, the national shipping company of Saudi Arabia, may have been thwarted in its attempt to buy DB Schenker – but it’s still on the lookout for M&A targets.
Sources told ION Analytics Bahri was looking at overseas expansion and was particularly interested in asset-light companies, like freight forwarders, with annual revenue of at least €1bn. It is prepared to pay between €1bn and €3bn for full ownership – although, reportedly, would ...

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Czech Airlines closes door on ‘OK’ code after 101 years

Alex Lennane — Mon, 28 Oct 2024 13:06:50 +0000

Czech Airlines (CSA) made its final flight – from Paris to Prague – over the weekend under its ‘OK’ code.
One of the world’s oldest airlines, it has been continuously operating for 101 years – but it’s not quite over for the carrier. Yesterday, it left SkyTeam and will become a holding company, with a majority stake in Smartwings, which will provide all flight operations. Four aircraft will retain the CSA ...

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How US intermodal operators are killing their own industry

Gavin van Marle — Mon, 28 Oct 2024 11:52:21 +0000

The United States’ much-vaunted intermodal network is in an utter mess, according to a pile of testimonies delivered to the Surface Transportation Board, and detailed in this excoriating commentary, Material Handling & Logistics, by logistics consultant David Sparkman. He writes that the “six major freight railroads [in North America] appear to be committing slow-motion suicide”. Shippers are simply fed up with declining service levels, terrible schedule reliability and prices that ...

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Emirates set to decide on which new freighter to order within weeks

Alex Lennane — Thu, 17 Oct 2024 12:03:14 +0000

Emirates SkyCargo’s plan to triple its cargo fleet by 2030 will see a decision on whether to opt for the A350F or B777X within weeks.
The carrier said it was evaluating the size of the order. It currently operates 11 777Fs, and leases 747Fs, while having nine 77Fs on order, according to The National – although delivery dates for those have slipped up to six months, causing capacity shortages for this ...

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Boeing delays 777 deliveries and axes 767F production

Alex Lennane — Mon, 14 Oct 2024 12:46:17 +0000

As indicated in The Loadstar last week, problems at Boeing will mean freighter orders will go to the back of the queue. Boeing has said it will push back its first 777-8F deliveries, as well as ending production of the 767F.
It will also cut 17,000 staff.
President and CEO Kelly Ortberg said customers should not expect 777-9s before 2026; and no 777-8Fs before 2028, citing a “difficult position” for the business. “It’s ...

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South African court blocks ICTSI-Transnet Durban deal

Alex Lennane — Fri, 11 Oct 2024 11:13:32 +0000

A complaint by losing bidder APM Terminals has led a court to temporarily block the deal between International Container Terminal Services (ICTSI) and Transnet to develop a container terminal in Durban.
A South African court ruled that Transnet’s selection of ICTSI was “potentially flawed … and unfair”, after APMT challenged the decision, questioning the solvency evaluation of ICTSI, reports Port Calls. The judge has issued the injunction until the case is ...

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Challenge Group sources new aircraft as Jet’s 777s remain elusive

Alex Lennane — Fri, 11 Oct 2024 10:27:55 +0000

Challenge Group has found another aircraft for its early February conversion slot, as it continues to struggle to get its hands on Jet Airways’ three 777s.
Despite paying $5.6m two years ago to secure the Jet aircraft, the deal has not closed and Challenge has not been allowed to examine its purchase. Challenge told Business Standard it was keen to put more capacity into India, but the delays were starting to ...

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