Kuehne + Nagel said a “tense” global airfreight market in the third quarter and continued pressure on margins contributed to shrinking demand and further capacity increases. As a result, Q3 earnings before interest, tax, depreciation and amortization (EBITDA) in its airfreight division were down 3.6 percent, year-over-year, to US$272.6 million, while operating profit fell 3 percent to $225.3 million.
Q3 total earnings fell under downward pressures, falling 4.8 percent, y-o-y, to $178.85 milli…
This content is for currently subscribed users only.
To get access to all premium content and continue reading, subscribe to Air Cargo World for FREE.
Subscribe to Air Cargo World
I already have a subscription, LOGIN
Login
Source: aircargoworld