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Forwarder sees business pick up
Panalpina, one of theworld’s biggest freight forwarders, has reported strong air cargo growth in its first quarter results. The air freight
Ribar sees “gradual recovery”
volumeswere up by 24 percent year-on- year at the Switzerland- headquartered company, leading CEO Monika Ribar to
remark that the“gradual recovery”being seen in freightmarketswas still going on and that Panalpina’s freight volumes continued to pick up. “Our volumes have been starting to
outpace themarket again,”she noted. Although profitability per unit of cargo remained“under pressure”,with gross profit actually down year-on-year, it showed an improvement over the last quarter of 2009. The profit per ton of air freight being
moved during the first threemonths of the year had shown“clear signs of improvement”, the company said,with intra-Asian and Latin American cargo traffic both enjoying“exceptionally strong growth”. Looking to the future, Ribar concluded:
“Whilewe are glad to see volumes on the rise in the first quarter, the remainder of 2010 is hard to predict.We expect Asia to be themajor growth driver in the coming months as consumption in Europewill most likely takemore time to recover.”
IN BRIEF
AIR Japan and ANA & JP Express, both subsidiaries of All Nippon Airways (ANA), are to be merged with effect from 1 July subject to approval by the relevant authorities. The new entity, Air Japan, will be wholly owned by ANA; ANA & JP Express will be dissolved.
AIR LOGISTICSCHINA 9
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