Strong air freight gains save Panalpina’s 3rd quarter

Switzerland-based forwarder and logistics services provider Panalpina reported third-quarter net income up 2.5% y-o-y to US$25 million, as gross profit (what some forwarders call net revenue) fell 4.3% to $359 million. Operating income (EBIT) for the quarter was up 2.8% to $33 million. For the first three quarters of 2016, Panalpina’s net income was down […]

Strong 3Q Airfreight performance for K+N

Switzerland-based forwarder and logistics services provider Kuehne + Nagle reported third-quarter net income down 4.8% y-o-y to US$179 million, as Gross Profit (what some forwarders call net revenue) rose 4.8% to $1.68 billion. Operating income (EBIT) for the quarter was down 3.0% to $225 million. For the first three quarters of 2016, K+N’s net income […]

Atlas looks ahead

  Atlas Air Worldwide Holdings last week reported second-quarter net income down 27.5% y-o-y to $20.6 million, as expenses incurred in gearing up for the twenty-aircraft Amazon deal ate into profitability. Reported financial and operational results are shown in the chart at right, but perhaps more important than the results themselves is an examination of […]

Troubles continue for Europe’s big three

With the publication of its first-half results, Lufthansa issued a warning that, for the first time in many years, its cargo division was likely to post a full-year operating loss. We have come to expect losses at Air France-KLM Cargo, but Lufthansa? Lufthansa’s cargo operation had always seemed proof against increased competition and a deteriorating […]

Strong gains in package volume for UPS

UPS reported second-quarter net income up 3.2% y-o-y, to $1.27 billion, as total revenue rose 3.8% to $14.63 billion, driven by the strong operational performance of its air units. With the exception of Domestic Deferred Air, average daily package volumes were up for all products in both the US Domestic and International reporting segments, led […]

K+N steals the show in 2Q16

The head offices of two of the world’s largest forwarders are less than 100 km apart in Switzerland. But despite their geographical proximity (and exposure to the same foreign exchange and market effects), second-quarter financial and operating results were once again strikingly different for Kuehne + Nagel and Panalpina. We’ll get to the details below, […]
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