UPS reported full-year 2008 net income of US$3 billion, widened significantly from a US$447 million profit in 2007 when its results were skewed by a one-time US$6.1 billion pension payment. But it said it must make "tough decisions" to cope with a "severe decline in economic activity around the world." This was more clearly indicated by its 2008 income which was down 28.6 per cent compared to US$4.2 billion in 2006. … [Read more...] about UPS reports full-year '08 profit
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Penang air freight volumes take a hit
Penang air freight volumes take a hit The electronics and semi-conductor focused Malaysian island of Penang has taken a hit from the global economic downturn, with Penang Freight Forwarders Association (PAFFA) president Joachim Loo saying December was the worst month in the past seven years for the air freight business. ¡°For the air-freight business, the inbound segment dropped by 52 per cent in December to 2,838 tonnes from 5,850 tonnes a year earlier. The export segment declined by 32 per … [Read more...] about Penang air freight volumes take a hit
DHL Express continues Latin American investment
DHL Express has opened a new advanced logistics gateway at Mexico City's International Airport. The US$6.2 million facilities, which include a customer service call centre, were designed to significantly increase the company's operational capacity and strengthen its Mexican and international network. Apart from the US, Mexico's strongest trading partner, Canada and other Latin American markets, such as Colombia, Guatemala and Brazil, the top volume express trade lanes are those connecting Mexico … [Read more...] about DHL Express continues Latin American investment
Liepzig/Halle sees jump in cargo thanks to DHL
Boosted by DHL's establishment of its Europe hub at the airport, Leipzig/Halle Airport has reported a 2008 throughput of almost 450,000 tonnes of cargo, making it the third largest logistics airport in Germany. Leipzig/Halle and Dresden Airports, both subsidiaries of Mitteldeutsche Airport Holding, enjoyed considerable growth in various sectors in 2008 with both airports handling 96,892 flights, 4.32 million passengers and 442,750 tonnes of freight last year. A total of 96,892 takeoffs and … [Read more...] about Liepzig/Halle sees jump in cargo thanks to DHL
US small-business optimism revealed in UPS survey
Despite the steady stream of grim economic news, a large majority of US small-business owners are optimistic about their company's financial future, according to two nationwide surveys sponsored by UPS. In the first UPS Business Monitor United States, conducted between September and October last year, 91 per cent of small-business owners or managers said they expect their company to be in the same or better financial shape in a year than it is today. A follow-up survey, conducted in mid-December … [Read more...] about US small-business optimism revealed in UPS survey
15 more B777 freighters for FedEx
Federal Express announced on Monday that its FedEx Express unit exercised options from a 2006 purchase agreement, to buy 15 more Boeing 777 freighters, worth US$3.75 billion at list prices, Although the move clearly bucks the current economic trouble, the express carrier did defer delivery of some of the planes with four B777s slated for delivery in FedEx's fiscal 2010, four in fiscal 2011, three in each subsequent fiscal year until fiscal 2018, and the remaining one in fiscal 2019. The express … [Read more...] about 15 more B777 freighters for FedEx