Latest news with #airfreight
RNZ News
04-07-2025
- Business
- RNZ News
Russian seizures and growing debt see Airwork Group go into receivership
Photo: lenor/123RF Long-established air freight company Airwork Group has been placed into receivership. Airwork, whose New Zealand roots trace back to 1936, has a fleet of Boeing 737 freighters and operates an air freight, maintenance, and aircraft leasing business. The company was briefly listed on the stock exchange in 2013 before a Chinese company, Zhejiang Rifa Holdings, took it private in 2017. Brendon Gibson, Daniel Stoneman and Neale Jackson of Calibre Partners were appointed as receivers. They said the move was made after a shareholder breached the company's banking facilities during the sale of the business. "This step has been taken to facilitate a structured process to identify a new owner for the business," Gibson said. "The trading performance of the business underpins the strategy to continue to trade with the support of the financiers, customers, and key suppliers with a view of immediately commencing a going-concern sale process for the New Zealand and Australian businesses and assets." In recent years, Airwork racked up hundreds of millions of dollars of losses after five of its six Boeing 757 freighter aircraft were trapped and illegally seized in Russia after the country invaded Ukraine. That forced the company to write off its value, and it became trapped in litigation with its insurers. The company sold its helicopter operations in 2022 and has since sold several surplus aircraft and engines to try and stay afloat. More recently, Airwork defaulted on a USD$83.5 million bank loan. The company employs around 180 people in New Zealand and Australia. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
RNZ News
02-07-2025
- Business
- RNZ News
Airwork Group grounded: Russian seizures and growing debt sink NZ aviation firm
Photo: lenor/123RF Long-established air freight company Airwork Group has been placed into receivership. Airwork, whose New Zealand roots trace back to 1936, has a fleet of Boeing 737 freighters and operates an air freight, maintenance, and aircraft leasing business. The company was briefly listed on the stock exchange in 2013 before a Chinese company, Zhejiang Rifa Holdings, took it private in 2017. Brendon Gibson, Daniel Stoneman and Neale Jackson of Calibre Partners were appointed as receivers. They said the move was made after a shareholder breached the company's banking facilities during the sale of the business. "This step has been taken to facilitate a structured process to identify a new owner for the business," Gibson said. "The trading performance of the business underpins the strategy to continue to trade with the support of the financiers, customers, and key suppliers with a view of immediately commencing a going-concern sale process for the New Zealand and Australian businesses and assets." In recent years, Airwork racked up hundreds of millions of dollars of losses after five of its six Boeing 757 freighter aircraft were trapped and illegally seized in Russia after the country invaded Ukraine. That forced the company to write off its value, and it became trapped in litigation with its insurers. The company sold its helicopter operations in 2022 and has since sold several surplus aircraft and engines to try and stay afloat. More recently, Airwork defaulted on a USD$83.5 million bank loan. The company employs around 180 people in New Zealand and Australia. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Khaleej Times
01-07-2025
- Business
- Khaleej Times
Vaayu Group demonstrates operational excellence in live animal transport
In an unprecedented logistics achievement, Fly Vaayu and Pradhaan Air successfully operated 100 livestock charter flights in just 50 days — from May 1 to June 20 — transporting over 80,000 goats from Nashik, India, to Ras Al Khaimah, in collaboration with Ras Al Khaimah International Airport (RAKIA), Nashik Airports and Amigo Logistics. This complex logistical feat highlights the exceptional coordination between the two airports, the airlines, and logistics experts. From flight planning to final touchdown, every step was handled with precision and care, in an effort that brought together flight crews, ground teams, operations controllers, and support staff across various companies and countries, working as a single, synchronised unit. "RAK Airport is poised for tremendous growth — in both passenger and cargo operations," said Manish Seth, chief executive officer of Ras Al Khaimah International Airport. "The successful transportation of livestock highlights our ability to handle complex logistics with efficiency and care. This achievement would not have been possible without the excellent cooperation and support from the Department of Customs and the Ministry of Climate Change and Environment. We are truly grateful for the seamless coordination among all the entities involved." He added: 'While we continue to focus on enhancing our passenger services and improving global connectivity, we also see strong potential in expanding cargo operations to support the Emirate's growing economic activity. Ras Al Khaimah International Airport is strategically located and stands ready to embrace new opportunities. We remain committed to investing in our infrastructure and services to meet the evolving needs of our customers.' This campaign marks a significant milestone not only for RAK Airport, but also for India's air cargo sector. It showcases the operational viability and safety of livestock air transportation on a large scale. The operation was conducted with minimal mortality, setting a new standard in air cargo for live animal transport. Sheikh Engr. Salem Bin Sultan Al Qasimi, chairman, Department of Civil Aviation, Ras Al Khaimah, expressed his pride in this milestone achievement, stating: 'This successful execution of over 100 livestock charter flights in just 50 days is a testament to Ras Al Khaimah's growing capability as a strategic cargo hub. It reflects the strength of our infrastructure, the professionalism of our partners, and the Emirate's commitment to supporting specialized logistics operations that serve international markets with efficiency and care.' 'This gives us the confidence to undertake more of these operations in the future,' said Vijay Arumbakkam, CEO of Vaayu Group. Fly Vaayu and Pradhaan Air operated a combined fleet of three A320P2Fs (passenger-to-freighter conversions) on this route. Fly Vaayu, part of the UAE-based Vaayu Group and UAE's first dedicated freight carrier, flies two A320P2Fs, while Pradhaan Air, headquartered in New Delhi, operates the world's first A320P2F aircraft. The A320P2F freighters offer a compelling value proposition for freight forwarders and shippers, providing 100% more pallet space, greater payload capacity, enhanced fuel efficiency, and containerized volume compared to other aircraft in their class. Vaayu Group plans to position Ras Al Khaimah as a regional cargo hub, offering capacity to freight forwarders, importers, exporters, e-commerce players, charter operators, and last-mile providers on routes to Asia, Africa, Europe, and the Middle East. A key factor behind the success of this initiative was Amigo Logistics' expertise and extensive track record in transporting live animals. The company is CEIV certified and adheres to international standards for the humane handling and transportation of animals. 'Amigo is proud to be the first company in Asia to receive CEIV certification for live animal transport,' said S. Sajid, Chairman and Managing Director of Amigo Logistics India Pvt. Ltd. 'We are honored to have played a crucial role in this milestone and are optimistic about what we can achieve together in the future.'
Zawya
30-06-2025
- Business
- Zawya
Saudia Cargo and China Cargo Airlines ink landmark agreement to elevate Asia-Europe air freight connectivity
Saudia Cargo and China Cargo Airlines announced the signing of a landmark cooperation agreement, significantly bolstering air freight connectivity between Asia, the Middle East, and Europe. This strategic partnership introduces additional routes across key trade lanes, reinforcing both companies' commitment to facilitating global commerce and supporting Saudi Arabia's ambitious transformation into a leading global logistics hub. This agreement outlines several key strategic objectives. It aims to significantly increase cargo flight frequencies between Riyadh and Shanghai, alongside boosting connections to various European destinations. A major highlight is the launch of the first-ever direct cargo route between Riyadh and Budapest; a pivotal move designed to strengthen Saudi Arabia's ties with European commercial centres and pave the way for future expansion into African markets. Additionally, the partnership will deliver comprehensive cargo solutions to clients, encompassing advanced cold chain services and efficient road freight connectivity. Loay Mashabi, CEO and Managing Director of Saudia Cargo, said: 'This partnership with China Cargo Airlines is a pivotal moment for Saudia Cargo and a testament to our unwavering commitment to expanding our global reach and enhancing our service offerings. By strengthening our network between Asia, the Middle East, and Europe, we are not only facilitating trade but also actively contributing to the Kingdom's vision of becoming a world-class logistics hub. The new Riyadh-Budapest route is particularly exciting, opening up new avenues for trade and connectivity.' 'This strategic partnership reflects both parties' shared commitment to innovation, enhancing customer satisfaction, and strengthening the efficiency of global supply chains. It also comes as an extension of the Memorandum of Understanding signed between the two parties earlier this year, within the framework of their shared vision for enhanced cooperation in the air cargo sector," added Mashabi. About Saudia Cargo: Saudia Cargo stands as a leading national cargo carrier, headquartered in the Kingdom of Saudi Arabia. Leveraging the strategic advantage of the country's location, it serves as a highly efficient aerial bridge connecting the East and the West, seamlessly bridging continents. Our extensive reach encompasses approximately 100 airport destinations and 250 customer destinations across four continents, establishing us as a pivotal player in the global air cargo industry. With a legacy spanning over seven decades and a commitment to a 'human-first' approach, Saudia Cargo has consistently upheld its esteemed reputation as one of the world's most dynamic cargo carriers. This reputation is underpinned by a rich history of innovation and resilience. Our robust alliance with SkyTeam Cargo, the world's largest consortium of air cargo carriers, connects us to an impressive network of 150 freighter destinations in addition to nearly 800 passenger destinations worldwide. Saudia Cargo's access to a modern fleet of Boeing freighter aircraft expedites the transportation of diverse cargo types, including e-commerce, pharmaceuticals, high-value shipments, hazardous materials, and perishables. The company's enduring dedication to humanity, reliability, and agility has been instrumental in driving its remarkable growth trajectory, which continues to expand significantly. For further information, please visit
Irish Times
19-06-2025
- Business
- Irish Times
Number of passengers using Irish airports held steady in first quarter
The number of passengers who passed through Irish airports held steady in the first quarter at 8.2 million people, new data from the Central Statistics Office shows. That represented a dip of just 20,000 on the same period in 2024. Some 4.1 million passengers departed from Ireland, which was 39,000 fewer passengers than the same period last year. The number of flights to and from the five Irish airports was down 2 per cent from 59,309 to 57,970. Dublin handled 83 per cent of all flights (48,351), followed by Cork with 8 per cent (4,737). READ MORE London-Heathrow, Amsterdam-Schiphol, and Manchester were the most popular routes for passengers travelling through Dublin Airport. The top route for both Cork and Shannon airports was London-Heathrow, for Knock airport it was London-Luton, while the top route for Kerry was Dublin. Almost nine out of every ten passengers (88 per cent) on international flights in the five main airports were travelling to or from Europe. The two most popular countries of origin/destination were the United Kingdom and Spain. Outside of Europe, the United States of America was the most popular country of origin/destination. The amount of air freight handled by the main airports rose by 1 per cent to 43,318 tonnes in the first three months of the year when compared with the same period in 2024.
