A strong quarter for UPS — despite the weather

UPS reported first-quarter net income down 12.2% y-o-y to $911 million, as revenue rose 2.6% to $13.78 billion. Operating profit for the quarter was down 4.2% to $1.51 billion. The seeming disconnect between rising revenue and falling profit was the result of “unusually harsh weather [which] weighed on operating profit by approximately $200 million.” Absent […]

Farnair takes 45% stake in Thailand’s K-Mile Air

Switzerland-based Farnair acquired the 45% stake in Thailandbased K-Mile Air formerly held by Malaysia’s Transmile Group. As part of the agreement, Farnair will place a 737-400F (28492, recently redelivered to Farnair by Aeronautical Engineers Inc) with K-Mile, replacing the carrier’s single 727-200F (22080),which it recently parked. Farnair has long been a turboprop freighter operator, but last year ordered four 737-400 passengerto-freighter […]

Big shakeup in Canada’s air express scene

Canada-based all-cargo carrier Cargojet received a contract award from Canada Post, estimated to be worth more than US$900 million over its seven-year term. The contract, which takes effect 1 April 2015, covers the provision of Canada-wide air cargo service for the Canada Post Group of Companies. One of the companies in the Canada Post Group […]

What’s the view from India?

The biggest story in the air freight and express industry the last two years has been the explosive growth of the domestic express business in China, but now that growth is taking off in India as well. That is why Cargo Facts has arranged for Tulsi Mirchandaney, Managing Director of Blue Dart Aviation, India’s most successful […]

Delta Air Lines in the express business?

Over the last year there has been much talk by the integrators of customers shifting down from high-speed, high-price products. Next-day instead of overnight. Deferred instead of Next-day. Ground instead of air. Coping with this shift has been the motivation behind FedEx’s much publicized “this is not a restructuring” program. At the Cargo Facts Asia […]
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