DANISH forwarding giant dsv saw its air freight volumes and revenues grow by double-digit percentage levels during the third of the year due to market growth and its Agility GIL takeover, reports London's Air Cargo News.
DSV's third-quarter air freight revenues increased 78.7 per cent year on year during the period to US$2.87 billion, while volumes grew 28.8 per cent to 386,702 tons.
The company saw its air freight gross profits for the third quarter increase 29.1 per cent to $410 million.
The company declared much of the growth was due to Agility GIL's results for the first time.
With the Agility figures stripped out, the company's air freight volumes would have increased in line with the overall market, around 15 to 20 per cent.
Revenues grew faster than volumes due to increased prices from carriers.
'In air freight, high demand, airport restrictions (Covid restrictions) and limited belly space capacity in passenger planes continue to impact the available capacity and are keeping rates high,' said the company.
'The return of passenger traffic is gradually having a positive impact on capacity due to more belly capacity entering the market, although this is primarily relevant for regional and domestic passenger flights, and we only expect a gradual return of long-haul passenger flights,' said the company.
'Global supply chains continue to be impacted by inefficiencies caused by the pandemic, impacting both demand and available capacity. For both air and sea, the markets have recovered and, overall, volumes are back at or above 2019 levels.' said the company.
SeaNews Turkey
DSV's third-quarter air freight revenues increased 78.7 per cent year on year during the period to US$2.87 billion, while volumes grew 28.8 per cent to 386,702 tons.
The company saw its air freight gross profits for the third quarter increase 29.1 per cent to $410 million.
The company declared much of the growth was due to Agility GIL's results for the first time.
With the Agility figures stripped out, the company's air freight volumes would have increased in line with the overall market, around 15 to 20 per cent.
Revenues grew faster than volumes due to increased prices from carriers.
'In air freight, high demand, airport restrictions (Covid restrictions) and limited belly space capacity in passenger planes continue to impact the available capacity and are keeping rates high,' said the company.
'The return of passenger traffic is gradually having a positive impact on capacity due to more belly capacity entering the market, although this is primarily relevant for regional and domestic passenger flights, and we only expect a gradual return of long-haul passenger flights,' said the company.
'Global supply chains continue to be impacted by inefficiencies caused by the pandemic, impacting both demand and available capacity. For both air and sea, the markets have recovered and, overall, volumes are back at or above 2019 levels.' said the company.
SeaNews Turkey
