UTi posts loss on back of weak air freight

Logistics company UTi Worldwide Inc reported a loss in the quarter ending 31 January, hurt by weak demand for air freight as customers opt for slower, but cheaper, modes of shipping.


UTi posts loss on back of weak air freight


Logistics company UTi Worldwide Inc reported a loss in the quarter ending 31 January, hurt by weak demand for air freight as customers opt for slower, but cheaper, modes of shipping. The net loss of US$50.7 million was however, down considerably from the $142.8 million loss a year earlier. Revenue fell 2.1 per cent to $1.08 billion.