United Parcel Service has reported a 56 per cent drop in first-quarter earnings to US$718 million from $1.49 billion in the year-ago quarter and warned the second quarter will also be difficult. Revenue was off 13.7 per cent at $10.9 billion with the continuing deterioration in global economic activity resulting in decreased revenue and profitability in all business segments, according to UPS. The company added that it took an impairment charge on its entire fleet of 44 DC-8 aircraft for a … [Read more...] about UPS sees 1Q profit plummet 56%
UPS
UPS reports full-year ’08 profit
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
UPS reports full-year '08 profit
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
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
UPS said to be cuting NCA loose in favour of ANA
UPS is said to be teaming up with All Nippon Airlines (ANA), as it cuts its links with Nippon Cargo Airlines (NCA). According to press reports from Japan, the agreement between the two calls for ANA to carry cargo to Asian destinations for the integrator, while UPS gives the carrier space on its flights to North America and Europe. UPS currently has a similar deal with NCA, which is due to expire at the end of March, when the partnership with ANA is due to begin. "Due to changes in the business … [Read more...] about UPS said to be cuting NCA loose in favour of ANA
UPS plans new Calgary express hub
Express carrier UPS plans to open a new distribution center at Calgary International Airport in October, 2009. The company's Canada subsidiary will construct a C$26-million, 150,000-square-foot distribution facility to handle import, export and Canadian domestic shipments. The center will allow UPS to double its package processing capability for growing volume moving through Alberta province. Since 2003, UPS has seen a 60-per cent increase in the volume of orders from the greater Calgary area, … [Read more...] about UPS plans new Calgary express hub
