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Air Freight and Logistics

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  • NEW YORK, March 31- U.S. stocks were poised to open higher on Monday, putting the S&P 500 on track for a second straight advance, ahead of a speech by Federal Reserve Chair Janet Yellen. *Investors will peruse comments by Yellen, who is scheduled to speak in Chicago at 9:55 a.m. EST, for clues on her stance on interest rates.

  • March 31- Logistics company UTi Worldwide Inc reported a bigger-than-expected quarterly loss, hurt by weak demand for air freight as customers opt for slower, but cheaper, modes of shipping. Air freight volumes fell 0.4 percent in North America last year, according to the International Air Transport Association.

  • March 31- Logistics company UTi Worldwide Inc reported a bigger-than-expected quarterly loss, hurt by weak demand for air freight. Net loss attributable to UTi Worldwide narrowed to $50.7 million, or 48 cents per share, for the quarter ended Jan. 31 from $142.8 million, or $1.38 per share, a year earlier.

  • The FAA's so-called airworthiness directive covers Boeing's 747-8 and 747-8 F planes with certain General Electric Co engines. Boeing's website said it had delivered 66 of the four-engine jets, the company's largest, to customers worldwide since the model was introduced in October 2011. The problem never caused a problem in flight, Boeing said.

  • The Federal Aviation Administration's so-called airworthiness directive covers Boeing's 747-8 and 747-8 F planes with certain General Electric Co engines, and calls for removing defective software and installing new, improved software.

  • The Coast Guard said planes were to begin flying after sunrise across Galveston Bay to determine the location of 4,000 barrels, or 168,000 gallons, of heavy fuel oil spilled after a Kirby Inland Marine oil barge and a cargo ship collided on Saturday.

  • The Coast Guard said planes were to begin flying after sunrise across Galveston Bay to determine the location of 4,000 barrels, or 168,000 gallons, of heavy fuel oil spilled after a Kirby Inland Marine oil barge and a cargo ship collided on Saturday.

  • DUBAI, March 20- Buyout firm GrowthGate Capital plans to take freight-forwarding company Able Logistics Group public in Dubai around the end of this year, a senior GrowthGate executive told Reuters, in a sign of growing strength in the region's equity markets. "We aim to make it this year or early next year," Haythem Macki, a partner at GrowthGate, said.

  • JOHANNESBURG, March 17- South Africa's state-owned logistics company on Monday awarded General Electric, Bombardier and two Chinese firms a contract to supply over 1,000 trains, as part of a $28 billion expansion plan.

  • Sweden offers to buy Brazilian military cargo jet Thursday, 27 Feb 2014 | 6:14 PM ET

    BRASILIA, Feb 27- Brazil is hoping to sell its upcoming KC-390 military cargo plane to Sweden as part of a $4.5 billion deal to buy 36 Gripen fighter jets made by Swedish company Saab AB. Embraer's new jet is set for its first flight by the end of the year and has received early commitments for orders from Brazil, Argentina, Colombia and Chile.

  • *Estimates fourth-quarter loss of 33- 38 cents/ shr. Feb 26- Logistics company UTi Worldwide Inc said it had breached some debt covenants and would report a loss for the fourth quarter due to a weak air freight market, sending its shares down as much as 28 percent in early trading.

  • Feb 26- Logistics company UTi Worldwide Inc said it had breached some debt covenants and would report a loss for the fourth quarter due to lower demand for air freight and higher costs. UTi also said it would have to raise about $525 million in additional capital to pay off debt of at least $400 million that could come due in April.

  • BEIJING/ HONG KONG, Feb 25- China's corporate debt has hit record levels and is likely to accelerate a wave of domestic restructuring and trigger more defaults, as credit repayment problems rise.

  • BEIJING/ HONG KONG, Feb 25- China's corporate debt has hit record levels and is likely to accelerate a wave of domestic restructuring and trigger more defaults, as credit repayment problems rise.

  • *Cosan's Rumo would name most of the board, have control. The planned takeover, which Cosan officials expect ALL's board and shareholders to approve, would create a new logistical giant in a country where access to cheap transportation infrastructure comes at a premium.

  • GLP: China investment will be a game-changer     Tuesday, 18 Feb 2014 | 6:45 PM ET

    Jeffrey Schwartz, Co-founder & Chairman, Executive Committee at GLP, explains why he doesn't anticipate regulatory hurdles from a $2.5 billion investment from a consortium of Chinese investors.

  • This is the future of in-flight entertainment Thursday, 13 Feb 2014 | 4:13 AM ET

    Airlines have made great strides in in-flight entertainment over the past two decades, and it's about to get even better.

  • The 'iron bird' test platform, a plane-like fuselage simulator, for the C919

    Commercial Aircraft Corporation of China (Comac) is set to emerge as a serious competitor in the commercial aviation market over the next 20 years.

  • Private jets bet on America for big orders Tuesday, 11 Feb 2014 | 8:38 PM ET

    While Asia may be seeing growth, private jet manufactures are turning to the U.S. to drive big orders as the world's largest economy recovers.

  • Can Asia’s low-cost carriers go the distance? Tuesday, 11 Feb 2014 | 6:22 PM ET

    As competition between budget airlines heats up, the appeal in going low-cost for the long-haul appears to be growing.

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