Air Freight and Logistics


  • PALMDALE, Calif., Nov 21- Lockheed Martin Corp expects to reach an agreement next year with a launch customer for a giant new hybrid airship that would revolutionize the way oil and mining companies haul equipment to the Arctic and other remote areas without roads. The initial version of the airship, filled mostly with helium, would carry 20 tons of cargo, but could...

  • UPDATE 1-Hertz Global names John Tague as CEO Thursday, 20 Nov 2014 | 5:52 PM ET

    Nov 20- U.S. car rental company Hertz Global Holdings Inc named John Tague as chief executive, overlooking a candidate put forward by activist investor Jana Partners. Hertz had formed a search committee including two independent directors nominated by Icahn to find a replacement for Mark Frissora, who resigned in September. The Committee and the Board...

  • Nov 5- XPO Logistics Inc's quarterly revenue more than tripled, helped by acquisitions, an increase in freight volumes and tight capacity across U.S. truck and rail networks. XPO, which has been on an acquisition spree since Jacobs took over in 2011, said revenue from its freight brokerage business jumped about 240 percent to $518.7 million in the third quarter...

  • NEW DELHI, Oct 28- Europe's Airbus and India's Tata Sons have bid for a multi-billion dollar contract to replace the Indian Air Force's aging fleet of Avro cargo planes, as New Delhi looks to boost the role of the local private sector in modernizing its armed forces. Under the bid, estimated by analysts to be worth at least $2 billion, Airbus' Defense and Space unit and...

  • TOKYO, Oct 28- Japanese telecom and media group SoftBank Corp has agreed to buy a $627 million stake in Indian online retailer Snapdeal, seeking to tap into potentially huge e-commerce growth in the market with the world's third-biggest Internet user base. Highlighting India as a new priority in its aggressive expansion, SoftBank said on Tuesday it's also...

  • CHICAGO, Oct 23- Determined not to repeat a holiday season that left millions of packages delivered too late and customers seething, United Parcel Service Inc and FedEx Corp are investing heavily in new infrastructure- but the continued dynamic growth of e-commerce will test those efforts. Even so, the rise in shipping originating with e-tailers including...

  • SAN FRANCISCO, Oct 22- Shipments of Bakken crude oil from North Dakota to California by barge have quietly overtaken those by train for the first time, showing how the state's isolated refiners are using any means necessary to tap into the nation's shale oil boom. While tough permitting rules and growing resistance by environmentalists have slowed efforts to...

  • GAVIÃO PEIXOTO, Brazil, Oct 21- Embraer's new military cargo jet could be adapted to serve niche civilian markets including the oil and mining industries, executives with the Brazilian plane maker said after unveiling the aircraft on Tuesday. Paulo Gastao, director of Embraer's KC-390 program, said ordinary civilian cargo operators tend to operate cheaper...

  • KUWAIT, Oct 21- Revenue at Kuwait- listed logistics company Agility is expected to resume growing next year as emerging markets business expands and the company develops new sectors, chief executive Tarek Sultan said. With more than 20,000 employees and over 500 offices in more than 100 countries, Agility is one of Kuwait's corporate success stories and a play...

  • NEW YORK, Oct 14- South Korea- based Asiana Airlines Inc has agreed to pay $55 million to settle allegations in a U.S. class action that it conspired with other airlines to fix rates for shipping air cargo, according to court papers filed on Tuesday. The proposed settlement, which requires the approval of a judge, was filed in U.S. District Court in Brooklyn.

  • CORRECTED-UPS acquires logistics company i-parcel Tuesday, 7 Oct 2014 | 12:53 PM ET

    Oct 7- United Parcel Service Inc the world's biggest courier company, said it bought i-parcel LLC to strengthen its business in the fast-expanding global e-commerce market. Terms of the deal were not disclosed. I-parcel helps American e-commerce merchants with international delivery services in over 100 countries, UPS said.

  • BERLIN, Oct 7- Strikes by train drivers' and pilots' unions over pay and conditions in Germany are expected to disrupt travellers and freight inside and outside the country from Tuesday evening. The strike by drivers, which runs from 1900 GMT Tuesday until 0400 GMT on Wednesday, follows two three-hour strikes in recent weeks. "Strikes in rail freight can affect...

  • UPS acquires logistics company i-parcel Tuesday, 7 Oct 2014 | 8:35 AM ET

    Oct 7- United Parcel Service Inc the world's biggest courier company, said it bought i-parcel LLC to strengthen its business in the fast-expanding global e-commerce market. Terms of the deal were not disclosed. I-parcel helps American e-commerce merchants with international delivery services in over 93 countries, UPS said.

  • Chicago FAA fire ruled arson, ties up air traffic Friday, 26 Sep 2014 | 12:07 PM ET
    A flight board is seen at O'Hare Airport in Chicago, Illinois.

    A fire at an air traffic control center outside Chicago on Friday led to the cancellation of all flights at the city's two major airports.

  • Fire at Chicago FAA hub snarls air traffic: Report Friday, 26 Sep 2014 | 7:58 AM ET
    Passenger at the O'Hare International Airport, Chicago.

    A fire at a Federal Aviation Administration outpost in Chicago has spilled over into air traffic delays from O'Hare and Midway International airports.

  • MH370 search tender awarded to Dutch firm Tuesday, 5 Aug 2014 | 11:53 PM ET
    A crew member of a Royal New Zealand Airforce (RNZAF) P-3K2-Orion aircraft helps to look for objects during the search for missing Malaysia Airlines flight MH370 in flight over the Indian Ocean off the coast of Perth, Australia.

    Australia awarded a contract to Dutch firm Fugro to search the sea floor where missing Malaysia Airlines Flight MH370 is believed to have crashed.

  • UPS slashes forecast as it spends to boost capacity Tuesday, 29 Jul 2014 | 10:46 AM ET
    A UPS worker delivers packages in Chicago.

    UPS slashed its earnings forecast for the year as it spends to boost capacity ahead of the holiday shopping season.

  • UAE plans Mars mission in heated space race Thursday, 17 Jul 2014 | 6:34 AM ET

    Not content with building the world's tallest building, the UAE is setting its sight on something out of this world: Mars.

  • Electronic warfare: Middle East a growing threat Wednesday, 16 Jul 2014 | 10:41 AM ET
    Patriot missile

    Insurgents in the Middle East are becoming more sophisticated with the technology behind their weapons, defense experts told CNBC.

  • Small firms’ hopes soar on Amazon drone plan Wednesday, 16 Jul 2014 | 9:03 AM ET

    As the world's largest technology companies look at ways to use drones, small makers of unmanned aircraft are hoping to fly right behind them.