Q4 air cargo surge expected, but e-commerce will dominate capacity
A busy Q3 for airfreight has heightened expectations that a Q4 surge will be stronger ...
CNBC reports:
United Parcel Service on Tuesday cut its full-year revenue and margin forecasts and its shares fell 5.1% in premarket trading, as the world’s largest delivery company expects a hit to volumes from a new labor contract.
The company agreed to end forced overtime for drivers and decided to limit seasonal work for part-timers to five weeks from November-December in a tentative five-year contract with the Teamsters union last month.
The contract for 340,000 U.S. workers has to be ratified by employees. It includes wage hikes, another paid holiday, end to a two-tier wage system for drivers and air conditioning to new models of the company’s trucks…
The full post can be found here.
Stock down -5.3% to $172.5 in pre-market trade.
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