UPS saw its net profit fall 49 per cent in the second quarter, to US$445 million with company saying it expects the weak global economy to remain just as weak in the coming months. “The business environment in the third quarter should be similar to the second quarter,†UPS CFO Kurt Kuehn said. Overall revenue at UPS fell 16.7 per cent in the three months ending 30 June from the same period a year ago as volume across its domestic and international operations fell 4.7 per cent. But on … [Read more...] about UPS sees net profit halved in Q2 from last year
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IATA: Asia cargo carriers optimistic of rising demand
The latest Airline Business Confidence Index from the International Air Transport Association has indicated carriers in Asia are more optimistic of a stabilisation of profitability over the next twelve months, compared with their counterparts in Europe and North America. The report noted that air cargo demand and yields continued to suffer in the last quarter of 2009, but "recent traffic results indicate that a floor may have been reached during the first half of the year with international FTKs … [Read more...] about IATA: Asia cargo carriers optimistic of rising demand
China posts 7.9% GDP growth for second month
China has reported a 7.9 per cent year-on-year growth in its estimated gross domestic product (GDP) for the second quarter, spurred by a government economic stimulus package. The April-June figure was up from 6.1 per cent in the first quarter and took China's GDP growth to 7.1 per cent for the first six months of this year compared with the same period last year, according to the country's National Bureau of Statistics. In another sign of improvement, China's industrial output grew by 10.7 per … [Read more...] about China posts 7.9% GDP growth for second month
DHL and Lufthansa launch new cargo carrier
In a bold but largely unvoidable move, a new cargo airline has taken flight in what is arguably the harshest air cargo environment in the history of air cargo. AeroLogic, the new child of global heavyweights DHL Express and Lufthansa Cargo officially started operations out of its Leipzig, Germany hub Friday after two years of extensive planning. The all-cargo carrier is a unique joint venture that sees the capacity of what will ultimately be an eight-plane fleet of 102-tonne B777 freighters … [Read more...] about DHL and Lufthansa launch new cargo carrier
China throws up barrier to int’l express carriers
A new Chinese postal law may make life difficult for international express carriers operating in China to expandtheir business. The Chinese government has enacted a new postal law on 24 April that bars foreign companies from delivering domestic express letters. Without access to this segment it may be difficult to operate international express business in the country according to the Brussels-based Global Express Association, who called the move by China “protectionistâ€Â. The market … [Read more...] about China throws up barrier to int’l express carriers
CryoPort and FedEx in life sciences deal
US-based companies CryoPort Systems Inc and FedEx Express have announced the signing of an agreement to provide an "innovative and breakthrough" frozen shipment solution for the life science industry. The CryoPort Express Shipper allows for products to remain frozen at temperatures below -150C for up to 10 days, unlike dry ice shipping which often requires re-icing during transit, according to a statement by the two companies. "By using CryoPort Express, customers also will eliminate greenhouse … [Read more...] about CryoPort and FedEx in life sciences deal
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