Kuehne + Nagel has announced its net profit fell 16.1 per cent in the second quarter compared with a year ago as the global economic slowdown depressed ocean and air freight traffic. The Swiss logistics giant booked net profit of US$120.7 million in the three months to 30 June as revenue slid 21.9 per cent to $3.9 billion. Net profit in the first six months fell 16.2 per cent to $241 million from the same period in 2008 as revenue shrank 20.6 per cent to $7.9 billion. The Zurich-based … [Read more...] about K+N profits down 16%, but still in the black
global economic slowdown
Pax numbers fair better than cargo at Changi
Despite the global economic slowdown in the second half of 2008, Singapore Changi Airport handled a higher volume of passenger traffic, with 37.7 million passenger movements handled in 2008, up 2.7 per cent from 2007. But the impact on cargo was more pronounced where, compared to 2007, airfreight movements dipped 2 per cent to register 1.86 million tonnes in 2008. ¡°Despite the difficult economic climate, Changi Airport has performed commendably in 2008," said Cival Aviation Authority of … [Read more...] about Pax numbers fair better than cargo at Changi
