General News
Air Freight Volumes Hit Highest Level in 2 Years
As a result of the July upbeat performance in the global aviation industry, air freight volumes are at their highest level since mid-2011.
Capacity increased 3.4% versus July 2012, pushing load factor down to 43.3%. However, load factors have stabilized compared to earlier in 2013.
The International Air Transport Association (IATA) announced global air cargo traffic results for July showing a continuation of the modest improvement trend experienced in June.
Global freight tonne kilometers (FTKs) were up 1.2% in July year-on-year, slightly better than the 0.9% year-on-year increase recorded in June, as growth in Europe and the Middle East offset weakness in Asia.
“The growth is encouraging, particularly in Europe. However, it is premature to say that air cargo may be emerging from the doldrums of the past 18 months. The weakness in Asia-Pacific freight markets and the deteriorating political situation in parts of the Middle East give ample reason for continued caution,” said Tony Tyler, IATA’s Director General and CEO.
On regional performance, African airlines experienced a 4.9% contraction in July year-on-year. Despite a relatively supportive demand environment, reflected in the year-to-date FTK growth of 2.2%, airlines in the region continue to face intense competition for their product.
Airlines in Europe, the Middle East and Latin America contributed to the improved performance versus a year ago.
For instance, cargo demand fell 1.4% compared to July 2012, while capacity climbed 2.6%. Asia-Pacific airlines have seen air freight contract 2.1% through the first seven months of 2013, the largest decline among regions.
Business activity in China remains sluggish, with the Markit/HSBC Purchasing Managers Indices for manufacturing and export orders continuing to show softness.
Moreover, the weakness extends beyond China, with emerging Asia trade volumes shrinking almost 5% in the first half of the year.
European carriers experienced a 1.5% increase in FTKs in July, while capacity climbed 3.5%. July was the second consecutive month in which air freight demand increased, giving rise to cautious optimism.
Questions remain, however, regarding the Eurozone’s ability to sustain growth. Although the Eurozone’s 18 month recession ended in the second quarter, performance among countries varies widely, with Portugal, Germany and France leading the expansion and Italy, Spain and the Netherlands showing contraction. Through the first eight months of 2013, FTKs rose 0.2% year-over-year.
North American airlines had another month of weak demand for air freight in July. FTKs fell 1.1% compared to the year-ago period, contributing to a 1.7% contraction in the first seven months of 2013 versus last year.
Signals out of the US are mixed. July’s performance represented a decline compared to June, but month-on-month growth rates have been especially volatile and recent indicators suggest rising business confidence, in line with an improving economy.
Middle East airlines led all regions with a 14.4% rise in FTKs compared to July 2012. Capacity climbed 11.1%. Year-to-date demand was up 11.7%.
The Middle East was one of just two regions in which airlines saw demand growth exceed capacity growth.
Part of the rise in year-on-year growth rates in July is owing to the timing of Ramadan, which took place mostly in July 2013, while in 2012, most of the holiday occurred in August.
Ramadan typically gives a boost to air freight demand for Middle Eastern carriers, as air transport of perishable foods and gift parcels increases to/from the region.
Latin American carriers’ cargo traffic was up 3.1% in July compared to a year ago, with capacity up just 1.7%. This result was broadly in line with the region’s performance during the first seven months of the year, when FTKs rose 3.4%. Demand for certain Latin American exports has shown strong growth momentum over recent months, providing a solid foundation for expansion in air freight demand.
PalmPay has opened a new office at 33 Old Yaba Road, Lagos, reinforcing its commitment to innovation, customer service, and operational growth in Nigeria.
The new office represents a continued investment in PalmPay’s people, operations, and infrastructure, supporting the company’s ability to deliver reliable financial services at scale. Designed to accommodate PalmPay’s growing team, the workspace enables closer cross-functional collaboration while strengthening service delivery nationwide. Located in Yaba, one of Lagos’s most established commercial and technology corridors, the office further anchors PalmPay within Nigeria’s innovation and financial ecosystem.
Speaking at the office launch, Managing Director Chika Nwosu highlighted that the new workspace reflects PalmPay’s long-term vision and dedication to excellence. “This new office represents an important step in our growth journey and our commitment to building secure, reliable, and inclusive financial solutions for our users,” he said.
The launch event was attended by PalmPay’s leadership team, employees and customers, who toured the facility and marked the company’s continued growth and progress.
With the opening of its office at 33 Old Yaba Road, PalmPay continues to strengthen its presence in Nigeria and reaffirm its mission to drive financial inclusion through innovative digital solutions.
PalmPay is a leading digital banking platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.
PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.
Since launching in Nigeria in 2019 under a Mobile Money Operator license, the platform has grown to over 35 million app users and processes up to 15 million transactions daily. PalmPay has operations in Nigeria, Ghana, Tanzania, and Bangladesh.
The Nigerian Aviation Handling Company Plc has announced the signing of a chain of contracts with major airlines for the provision of total handling solutions.
In a statement on Tuesday, the company announced the signing of contract renewals with Air France, KLM and Virgin Atlantic, as well as the African operator, RwandAir.
NAHCO also signed fresh contracts with United Nigeria – Regional, Bellagio and Malaikair.
According to the statement, the contracts with Air France and KLM are for three years and will run till 2028, respectively. The duration of the contract with Virgin Atlantic was also put at three years.
The duration for the RwandAir contract is for three years, effective 1 October 2025.
The statement read, “The new contract with United – Regional would be for a period of five years, effective from 1 August 2025. For Bellagio and Malaikair, the contracts are for three and five years, respectively.
“Bellagio Air, Nigeria’s rising star in aviation, is redefining air travel with a blend of luxury, efficiency, and reliability. Headquartered in the vibrant city of Ikeja, Lagos, Bellagio Air is committed to providing world-class service across key domestic and regional routes.”
The Group Executive Director, Commercial and Business Development, NAHCO Plc, Saheed Lasisi, who expressed his delight with the new contracts, said NAHCO is already ready to exceed customers’ expectations.
According to Lasisi, NAHCO’s more than 46 years of unblemished excellent service delivery puts it heads and shoulders above any other service provider in the industry.
“This is what we have been doing for almost half of a century. We will continue to delight our customers and make our stakeholders happy by exceeding expectations in all aspects of our service offerings. We are always willing and ready to do more,” Lasisi added.
The Group Managing Director/Chief Executive Officer, NAHCO Plc, Olumuyiwa Olumekun, added that with the new fleet of equipment the company is deploying, service delivery will only be better.
Nigerian Communications Commission (NCC) has unveiled a forward-looking strategy that places satellite-enabled mobile connectivity at the heart of the country’s drive to bridge its long-standing coverage gaps.
The draft Spectrum Roadmap for the Communications Sector for 2025 to 2030 lays out how satellite technologies could help deliver reliable voice and data services to millions of Nigerians who live beyond the reach of conventional mobile networks.
The direction is outlined in the Commission’s draft Spectrum Roadmap for the Communications Sector covering the period.
The proposed approach highlights non-terrestrial networks as a complement to existing mobile infrastructure, especially in areas where terrain, insecurity, or high costs limit the deployment of base stations.
The NCC said D2D satellite technology, which allows standard mobile phones to connect directly to satellites, is gaining traction globally as a means of delivering voice and data services without reliance on ground towers.
According to the regulator, the technology could help close persistent coverage gaps in rural, riverine, and border communities that remain outside the reach of conventional networks.
It also noted that satellite-backed connectivity could improve network reliability by providing alternative links during fibre cuts, power failures, or other disruptions affecting terrestrial systems.
The Commission added that wider adoption of D2D services could support emergency communications, public safety operations, Internet of Things applications, and services such as smart agriculture in underserved regions.
It also pointed to potential investment opportunities through partnerships between mobile network operators and satellite companies, including more efficient use of shared spectrum resources.
Beyond D2D services, the roadmap places emphasis on Low-Earth Orbit satellites to expand broadband access to remote parts of the country.
It also proposes better utilisation of Geostationary Orbit satellites and the exploration of high-altitude platforms, such as stratospheric balloons, to support mobile backhaul and rural connectivity.
The policy signals come shortly after Airtel Africa announced an agreement with SpaceX to introduce Starlink-powered direct-to-cell services in Nigeria.
The NCC’s roadmap is expected to shape future spectrum allocation, licensing decisions, and technology adoption across the telecommunications sector.
Fidelity Bank Completes N500Bn Capital Raise ahead of Deadline
PalmPay Deepens Its Long-Term Commitment in Nigeria with New Office @ Yaba
Kaspersky Shares AI Cybersecurity Predictions for 2026
Youth Talent Takes Center Stage as T2 Ignites High-Octane Rap Battles @ Carnival Calabar
Nigerians with Albinism Reject Pity, Demand Dignity at Empowerment Forum
Banks quietly move to enforce new ₦50 transfer levy from Jan. 1
FIRS says NIN, CAC Numbers to Serve as Tax IDs from 2026
Financial Sector Faced AI, Blockchain and Organised Crime Threats in 2025 – Report
PalmPay Launches N400 Million World Travel Carnival, Rewarding Users with Free Global Trips
Check Point Reveals Nigeria as Second Most Targeted African Country for Cyberattacks in November
News3 days agoCourt Sends Faleti, Ex-Lagos Director to Jail for Stealing ₦48.9m from Access Bank
E-Financial3 days agoRemita Powers over ₦100 Trillion in Payments as Nigeria’s Digital Economy Expands
E-Financial3 days agoWhy 2026 Must Be the Year Nigeria’s Economy Works for All
E-Financial3 days agoFlutterwave Acquires Nigeria’s Mono in $25m-$40m All-Stock Deal
E-Financial3 days ago2026: SEC to Review Rules to Incentivise SME Listings
General News3 days agoNigeria Targets Satellite-to-Mobile Services in Draft Spectrum Roadmap
Telecom3 days agoSamsung Plans to Double AI Mobile Devices to 800 million Units this Year
Telecom3 days agoMENXTT NG to pre-install Bitdefender Antivirus on all laptops from 2026