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News updates from April 1: Israel accused of air strike on Iranian embassy; US manufacturing sector expands for first time since 2022
UPS replaces FedEx as main air cargo provider for US Postal Service
...FedEx moved most of the United States Postal Service air cargo nationwide....
April 1, 2024
Shipping
CMA CGM and Air France-KLM abandon air cargo alliance
...In the first nine months of 2023, Air France-KLM’s cargo revenues were down 31 per cent on the previous year....
January 16, 2024
FT Live
US Pharma and Biotech Summit
Strategies for innovation, pricing and access
Thursday, 16 MayNew York, NY, USA
News updates from February 14: UK inflation holds steady, Uber debuts $7bn share buyback
Korean Air wins EU approval for merger with Asiana Airlines
...Under the remedy package signed with the EU, Korean Air has to find a buyer for Asiana’s cargo unit and give South Korean budget airline T’Way Air slots, traffic rights and aircraft for routes to Barcelona...
February 14, 2024
News updates from November 2: Sam Bankman-Fried convicted, BoE leaves rates unchanged
Asiana approves sale of cargo business to clear way for Korean Air takeover
...Korean Air said it had submitted a package of remedies to the European Commission, including selling Asiana’s cargo business and relinquishing four lucrative European routes....
November 2, 2023
Trade SecretsAlan Beattie
Suez, Schmuez: how global trade is shrugging off the Houthi attacks
...Air cargo has survived pilot and air traffic control strikes and an Icelandic ash cloud that closed north Atlantic airspace in 2010....
March 14, 2024
Supply chains
Shippers turn to air freight to alleviate Red Sea crisis
...Such cargo can travel either on specialist freighter aircraft or in the holds of passenger aeroplanes....
January 12, 2024
FT Live
Future of the Car
The technology and new business models shaping the next decade in automotive
Tuesday, 7 MaySancroft, Paternoster Square, London EC4M 7DQ, UK
Israel-Hamas war
Houthi rebels hit US-owned cargo ship in Gulf of Aden
...The US and UK retaliated on Friday by launching a barrage of missiles and bombs targeting the group’s drone, missile, radar and air surveillance capabilities in Yemen....
January 15, 2024
Ecommerce
West’s love for Shein and Temu drives ecommerce boom for air freighters
...“In a nutshell, it is fiercely competitive given the . . . relative weakness in other sectors of air cargo,” said Tom Owen, cargo director at Hong Kong’s Cathay Cargo....
December 14, 2023
Houthi movement
US and UK launch fresh air strikes against Houthis in Yemen
...It also warned of the risk of further environmental damage from the ship’s cargo of 41,000 tonnes of fertiliser....
February 24, 2024
War in Ukraine
Cargo ship hit in Ukrainian port during Russian missile strike
...It was not immediately clear whether the ship was the target of the strike or was hit during an attack on port infrastructure — or hit by debris from Ukrainian air defences....
November 9, 2023
Day 10 of Israel conflict as it happened: Iran warns of possible ‘pre-emptive’ attack on Israel
EU launches humanitarian air corridor through Egypt to Gaza
...The EU said the air corridor would “consist of several flights to Egypt”, with the first two to take place this week and carrying cargo from Unicef....
October 16, 2023
Letter
Letter: US may rule the waves, but who’s really benefiting?
...While reading your report “US and UK air strikes seek to draw sting from Houthis’ Red Sea attacks” (January 16), I couldn’t help but think that the vast amount of cargo being rerouted around the Red Sea,...
January 18, 2024
Wizz Air
Wizz Air cuts profit forecast as groundings threaten growth plans
...Wizz Air has cut its annual profit forecast as the low-cost carrier is hit by an “unprecedented operational challenge” and geopolitical uncertainty....
November 9, 2023
Rana Foroohar
The global trade system is in desperate need of an overhaul
...rana.foroohar@ft.com Letter in response to this column: Brilliant breath of fresh air / From Clyde Prestowitz, President, Economic Strategy Institute, Potomac, MD, US...
February 25, 2024
War in Ukraine
Russia pounds port of Odesa in latest air strikes against Ukraine
...Ukraine’s air force said 20 out of the 33 missiles and drones targeting Odesa and other regions in the overnight strikes had been intercepted by air defence systems....
September 25, 2023
FT Live
Due Diligence Live
Where leaders in investment and finance meet
Tuesday, 8 OctoberLondon, UK
Due Diligence
A lifeline for Canary Wharf Premium content
...After buying planes to launch an air cargo venture in 2022 he also took a stake in Air France-KLM and formed a much-vaunted joint venture....
April 25, 2024
Vietnam
Vietnam bets on new airports to boost tourism and supply chains
...By 2030 Vietnam’s air cargo is expected to reach 270 per cent of the current volume, the US International Trade Administration said....
November 28, 2023
News updates from November 9: S&P 500 snaps win streak, Ransomware attack disrupts Chinese lender ICBC
Emirates airline posts record first half profit
...Emirates airline’s first half net profit surged to a record $2.6bn on the back of strong demand for global air travel ....
November 9, 2023
CMA CGM SA
Red Sea crisis causes surge in container ship costs, warns CMA CGM
...CMA CGM has also invested hugely in new areas such as air cargo and on more environmentally friendly ships....
February 23, 2024
FT CollectionsWar in Ukraine: economy and trade
Ukraine reaches deal with insurers for grain shipments
...Since Russia withdrew from a UN-brokered grain deal in July, a limited number of ships have sailed through an alternative corridor along Ukraine’s Black Sea coast under the protection of Ukrainian coastal air...
November 15, 2023
BYD Co Ltd
China’s BYD to build electric vehicle plant in Indonesia
...This week BYD’s first EV cargo ship departed China for Europe and the company has plans to build six further vessels....
January 18, 2024
War in Ukraine
Ukraine launches biggest drone attack yet inside Russian territory
...According to state news agency Tass, at least four Ilyushin Il-76 planes, large military cargo carriers, were destroyed in the Pskov attack....
August 30, 2023
Shipping
Ships shun Red Sea and Suez Canal despite reduced Houthi menace
...A missile launched at the Morning Tide, a cargo ship, flew over its deck but caused only minor damage....
February 12, 2024
War in Ukraine
Russia sets Odesa ablaze in overnight air strikes on Ukraine
...The latest military assistance includes air defence munitions, artillery rounds, anti-armour capabilities, and additional mine-clearing equipment from existing US stocks...
August 14, 2023
News in-depthWeight Watchers International Inc
WeightWatchers faces an era when weight loss comes in a syringe
...The Chicago air cargo manager is sticking to its Core system after losing 207lbs of his 396lbs, saying he does not want to “try to fix something that’s not broken”....
April 9, 2024

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