UPS to cut 20,000 jobs in network reconfiguration
And so it starts. UPS, while announcing a better-than-expected profit, also enthused investors with its ...
© Khunaspix Dreamstime.
By Alex Lennane
Air France-KLM is the latest airline to announce third-quarter results showing that cargo is critical to its business.
Total group revenues fell 68.3% to €2bn, of which cargo accounted for 34%, with third-quarter freight revenues of €676m.
The group recorded an ebitda loss of €442m – “limited thanks to cost control and state aid”, and an operating loss of more than €1bn.
Cargo was, of course, a bright spot. While capacity was down 33% and tonnage declined 20%, cargo revenues were up 33%, indicating ...
Comment on this article