Latest news with #LufthansaCargo
Yahoo
21-05-2025
- Business
- Yahoo
Lufthansa Cargo to market capacity on ITA Airways, add Rome hub
Lufthansa Cargo in mid-June will start selling cargo capacity and handling shipments on ITA Airways, the Italian carrier in which Deutsche Lufthansa AG acquired a 41% stake in January for nearly $350 million. The deal allows Lufthansa Cargo to make Rome its cargo hub for Southern Europe. Lufthansa's cargo subsidiary will start marketing ITA cargo capacity under its own designated airway bill from Sao Paulo and Rio de Janeiro, as well as from Buenos Aires, Argentina, to Rome, on June 16, according to a news release on Monday. On all other routes, both airlines will initially operate under two separate airway bill numbers. Lufthansa Cargo will gradually take over the sale of ITA's belly space on all routes, following necessary regulatory approvals. The addition of ITA will increase global belly capacity available to Lufthansa Cargo customers by almost 20%, while giving them an even denser network of city pairs to choose from, the company said. Lufthansa Cargo operates 12 Boeing 777 long-haul cargo jets and four Airbus A321 converted freighters in regional service. It received a new freighter from Boeing during the first quarter. An additional six aircraft are chartered from AeroLogic, a joint venture with DHL, and operated by AeroLogic on behalf of Lufthansa Cargo. Lufthansa Cargo also manages the belly cargo for Lufthansa Group's passenger airlines, with the exception of Swiss International. 'Along with our partner ITA Airways, we are excited to offer our customers even more attractive routes, additional capacities and solutions to and from Europe as well as worldwide to meet their transportation needs. … In addition to Frankfurt, Munich, Vienna and Brussels, Rome will be our 5th hub that will help us offer flexible and quality solutions to our customers. Our customers will benefit from even more reliable, faster connections to and from southern Europe,' said Lufthansa Cargo CEO Ashwin Bhat. Lufthansa Group has expressed interest in increasing its share of ITA Airways. The Italian government is the airline's majority shareholder. ITA has a fleet of 99 aircraft, including 22 long-haul Airbus jets, and flies to 70 destinations around the world. Last week, Lufthansa Group made changes to Cargo's executive leadership, moving Frank Bauer from chief financial officer and labor director to chief operating officer and installing Gregor Schleussner, currently head of finance, controlling and accounting at sister airline Eurowings, as CFO and chief human resources officer, effective July 1. Lufthansa Cargo's revenue grew 21% year over year in the first quarter to $938.8 million, while adjusted earnings before interest and taxes increased to $70 million from a $24 million loss, thanks to increased yields, strong demand from China and lower costs. Click here for more FreightWaves/American Shipper stories by Eric Kulisch. RELATED READING: Lufthansa handles some cargo for ITA Airways ahead of pending deal Lufthansa Cargo bolsters China partnerships as trade grows Lufthansa Cargo introduces freighter service from Vietnam to US The post Lufthansa Cargo to market capacity on ITA Airways, add Rome hub appeared first on FreightWaves.
Time of India
28-04-2025
- Business
- Time of India
Companies mull stockpiling as trade war turns tricky
Stockpiling is the reflex response by firms to the imposition of tariffs , but with the rapidly-changing position of the Trump administration , companies are finding that it isn't so straightforward this time around. Whether it's the luxury, electronics or pharmaceutical sectors, Trump's unpredictability complicates the calculations of firms. Some companies didn't wait for the April 2 announcement of massive "reciprocal" trade tariffs: they had already begun shipping more of their goods to the US. In the end, Trump backed down quickly on the "reciprocal" tariffs, pausing them for 90 days except for China. That still left the global 10 per cent tariff in place, as well as the 25 per cent tariffs on European steel, aluminium and cars. French cosmetics firm Clarins didn't hesitate and stepped up shipments to the US at the beginning of the year. With all of its products made in France, Clarins had few other options to mitigate the tariffs. Even if they don't all acknowledge it so openly, firms in many different sectors are stockpiling their products in the US. In March, exports of Swiss watches to the US jumped nearly 14 per cent compared to the same month last year. More striking is Ireland, which plays host to a number of global pharmaceutical firms. Its exports to the US jumped 210 per cent in February to nearly USD 14.8 billion. Lufthansa Cargo said it has seen in recent weeks "an increase in demand for shipments to the United States". The trade war "has incited companies to accelerate certain stages in their supply chains", it told AFP. The phenomenon also concerns US-made goods. Nikkei reported recently that Chinese tech firms were snapping up billions of dollars of AI chips made by Nvidia in anticipation of US imposing export curbs . Stockpiling is not a solution, however, said analysts. Matt Jochim, a partner at consulting firm McKinsey called stockpiling "a very short-term opportunistic" move. He said the practice has limits as tariffs are constantly changing and it isn't always practicable. "In a lot of the electronics space... because the technology changes so quickly, you don't want to get stuck with inventory of chipsets or devices that are the prior version," he said.
Time of India
27-04-2025
- Business
- Time of India
Companies mull stockpiling as trade war turns tricky
Stockpiling is the reflex response by firms to the imposition of tariffs , but with the rapidly-changing position of the Trump administration , companies are finding that it isn't so straightforward this time around. #Pahalgam Terrorist Attack India stares at a 'water bomb' threat as it freezes Indus Treaty India readies short, mid & long-term Indus River plans Shehbaz Sharif calls India's stand "worn-out narrative" Whether it's the luxury, electronics or pharmaceutical sectors, Trump's unpredictability complicates the calculations of firms. Some companies didn't wait for the April 2 announcement of massive "reciprocal" trade tariffs: they had already begun shipping more of their goods to the US. In the end, Trump backed down quickly on the "reciprocal" tariffs, pausing them for 90 days except for China. 5 5 Next Stay Playback speed 1x Normal Back 0.25x 0.5x 1x Normal 1.5x 2x 5 5 / Skip Ads by by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Crossout: New Apocalyptic MMO Crossout Play Now Undo That still left the global 10% tariff in place, as well as the 25% tariffs on European steel, aluminium and cars. French cosmetics firm Clarins didn't hesitate and stepped up shipments to the US at the beginning of the year. With all of its products made in France, Clarins had few other options to mitigate the tariffs. Live Events Even if they don't all acknowledge it so openly, firms in many different sectors are stockpiling their products in the US. In March, exports of Swiss watches to the US jumped nearly 14% compared to the same month last year. More striking is Ireland, which plays host to a number of global pharmaceutical firms. Its exports to the US jumped 210% in February to nearly $14.8 billion. Lufthansa Cargo said it has seen in recent weeks "an increase in demand for shipments to the United States". The trade war "has incited companies to accelerate certain stages in their supply chains", it told AFP. The phenomenon also concerns US-made goods. Nikkei reported recently that Chinese tech firms were snapping up billions of dollars of AI chips made by Nvidia in anticipation of US imposing export curbs . Stockpiling is not a solution, however, said analysts. Matt Jochim, a partner at consulting firm McKinsey called stockpiling "a very short-term opportunistic" move. He said the practice has limits as tariffs are constantly changing and it isn't always practicable. "In a lot of the electronics space... because the technology changes so quickly, you don't want to get stuck with inventory of chipsets or devices that are the prior version," he said.
Malay Mail
27-04-2025
- Business
- Malay Mail
Trump trade war pushes firms to consider stockpiling; analysts call it ‘short-term opportunistic' move
PARIS, April 27 — Stockpiling is the reflex response by firms to the imposition of tariffs, but with the rapidly-changing position of the Trump administration, companies are finding that it isn't so straightforward this time around. Whether it's the luxury, electronics or pharmaceutical sectors, US President Donald Trump's unpredictability complicates the calculations of firms. Some companies didn't wait for Trump's April 2 announcement of massive 'reciprocal' trade tariffs: they had already begun shipping more of their goods to the United States. In the end, Trump backed down quickly on the 'reciprocal' tariffs, pausing them for 90 days except for China. That still left the global 10 per cent tariff in place, as well as the 25 per cent tariffs on European steel, aluminium and cars. French cosmetics firm Clarins didn't hesitate and stepped up shipments to the United States at the beginning of the year. 'We've built up three months of stocks, which represents US$2 million (RM8.7 million) in goods,' said Lionel Uzan, the head of Clarins's US operations. With all of its products made in France, Clarins had few other options to mitigate the tariffs. Discreet stockpiling Even if they don't all acknowledge it so openly, firms in many different sectors are stockpiling their products in the United States. In March, exports of Swiss watches to the United States jumped nearly 14 per cent compared to the same month last year. More striking is Ireland, which plays host to a number of international pharmaceutical firms. Its exports to the United States jumped 210 per cent in February to nearly €13 billion (RM64.7 billion), with 90 per cent of those being pharmaceutical products and chemical ingredients. Fermob, a French manufacturer of metal garden furniture that sells around 10 per cent of its products in the United States, said it began planning for US tariffs once the result of the presidential election became known in November. It stepped up production in January and February. 'We've sent around 30 per cent of our extra stock to the United States,' said the company's chief executive, Baptiste Reybier. That extra production has benefitted transportation firms. Lufthansa Cargo said it has seen in recent weeks 'an increase in demand for shipments to the United States'. The trade war 'has incited companies to accelerate certain stages in their supply chains', it told AFP. 'A similar trend was seen for the delivery of cars from the EU to the United States,' it said. The phenomenon also concerns US-made goods. The Japanese newspaper Nikkei reported recently that Chinese tech firms were snapping up billions of dollars of artificial intelligence chips made by US firm Nvidia in anticipation of Washington imposing export restrictions. 'Short-term approach' Stockpiling is not a solution, however, said analysts. Matt Jochim, a partner at consulting firm McKinsey who helps companies with supply chain issues, called stockpiling 'a very short-term opportunistic' move. He said the practice has limits as tariffs are constantly changing and it isn't always practicable. 'In a lot of the electronics space, it's also hard to do, because the technology changes so quickly, you don't want to get stuck with inventory of chipsets or devices that are the prior version,' he said. Fermob said it was taking a measured approach to stockpiling. 'Otherwise, you're replacing one risk with another,' the manufacturer's Reybier said. 'You have to finance stocks and there is also the risk of not having sent the right product.' Having a local subsidiary with warehouses also helped, Reybier added. 'It's too early to say whether we should have sent more or not.' — AFP
eNCA
27-04-2025
- Business
- eNCA
Trump trade war pushes firms to consider stockpiling
WASHINGTON D.C - Stockpiling is the reflex response by firms to the imposition of tariffs, but with the rapidly-changing position of the Trump administration, companies are finding that it isn't so straightforward this time around. Whether it's the luxury, electronics or pharmaceutical sectors, US President Donald Trump's unpredictability complicates the calculations of firms. Some companies didn't wait for Trump's April 2 announcement of massive "reciprocal" trade tariffs: they had already begun shipping more of their goods to the United States. In the end, Trump backed down quickly on the "reciprocal" tariffs, pausing them for 90 days except for China. That still left the global 10 percent tariff in place, as well as the 25 percent tariffs on European steel, aluminium and cars. French cosmetics firm Clarins didn't hesitate and stepped up shipments to the United States at the beginning of the year. "We've built up three months of stocks, which represents $2 million in goods," said Lionel Uzan, the head of Clarins's US operations. With all of its products made in France, Clarins had few other options to mitigate the tariffs. - Discreet stockpiling - Even if they don't all acknowledge it so openly, firms in many different sectors are stockpiling their products in the United States. In March, exports of Swiss watches to the United States jumped nearly 14 percent compared to the same month last year. More striking is Ireland, which plays host to a number of international pharmaceutical firms. Its exports to the United States jumped 210 percent in February to nearly 13 billion euros ($14.8 billion), with 90 percent of those being pharmaceutical products and chemical ingredients. Fermob, a French manufacturer of metal garden furniture that sells around 10 percent of its products in the United States, said it began planning for US tariffs once the result of the presidential election became known in November. It stepped up production in January and February. "We've sent around 30 percent of our extra stock to the United States," said the company's chief executive, Baptiste Reybier. That extra production has benefitted transportation firms. Lufthansa Cargo said it has seen in recent weeks "an increase in demand for shipments to the United States". The trade war "has incited companies to accelerate certain stages in their supply chains", it told AFP. "A similar trend was seen for the delivery of cars from the EU to the United States," it said. The phenomenon also concerns US-made goods. The Japanese newspaper Nikkei reported recently that Chinese tech firms were snapping up billions of dollars of artificial intelligence chips made by US firm Nvidia in anticipation of Washington imposing export restrictions. 'Short-term approach' Stockpiling is not a solution, however, said analysts. Matt Jochim, a partner at consulting firm McKinsey who helps companies with supply chain issues, called stockpiling "a very short-term opportunistic" move. He said the practice has limits as tariffs are constantly changing and it isn't always practicable. "In a lot of the electronics space, it's also hard to do, because the technology changes so quickly, you don't want to get stuck with inventory of chipsets or devices that are the prior version," he said. Fermob said it was taking a measured approach to stockpiling. "Otherwise you're replacing one risk with another," the manufacturer's Reybier said. "You have to finance stocks and there is also the risk of not having sent the right product." Having a local subsidiary with warehouses also helped, Reybier added. "It's too early to say whether we should have sent more or not." By Marie-morgane Le Moel
