UPS to layoff 300 pilots by 2011
US-based express company, UPS is laying off some 300 pilots world-wide between now and 2011, the company announced recently. UPS said it has more pilots than it needs to operate its airline fleet, which is flying fewer flights than it did three years ago due to the global economic recession. The company said it is […]
April 1, 2010
UPS said it has more pilots than it needs to operate its airline fleet, which is flying fewer flights than it did three years ago due to the global economic recession. The company said it is also flying fewer aircraft. Company spokesman Michael Mangeot said: Ã¢â‚¬Å“We have about 2,800 pilots and we only need 2,500,Ã¢â‚¬Â he said.
Express sector boots FedEx profit FedEx Corp. reported a US$239 million net profit in its fiscal third quarter ended 28 February, more than double the $97 million posted a year earlier, as a result of improved market conditions in the express sector.
Express revenue rose eight per cent to $5.44 billion and operating income surged to $265 million from $45 million in the year-ago quarter. International Priority daily package volume was up 18 per cent, fueled by exports from Asia, and IP revenue climbed 49 per cent. On the US domestic front, average daily volume inched up one per cent and revenue per piece Ã¢â‚¬Å“declined slightly,Ã¢â‚¬Â FedEx said.
Ã¢â‚¬Å“In the fourth quarter, we expect to grow our revenue and earnings through increased demand,Ã¢â‚¬Â executive VP and CFO Alan Graf Jr. said. The company is scheduled to take delivery of 30 B777Fs over the next decade.