US
express delivery giant FedEx posted a 119.6 per cent increase in
second quarter net profit to US$1.2 billion, drawn on revenues of $20.6
billion, up 19 per cent.
FedEx
said the global air cargo market capacity was down 23
per cent year on year due to fewer passenger aircraft flying. Air cargo demand
is expected to recover to pre-Covid levels faster than passenger capacity for
key intercontinental lanes, creating an opportunity for FedEx.
FedEx, which operates 680 aircraft, employs
600,000 people and has 200,000 vehicles, credited growth to booming e-commerce
and volume growth in its International Priority and US domestic residential
package services and price increases and peak surcharges.
E-commerce package volumes are expected to
more than triple to 111 million packages per day by 2026, up from 35 million in
2019.
This
was partially offset by costs to support strong demand and to expand services,
variable compensation expense, and Covid related costs.
Its
ground business handled an average of 12.3 million packages per day during the
quarter compared with 9.6 million a year ago. Its international priority
freight service saw volumes grow by 19 per cent.
Said
FedEx president Raj Subramaniam: "We are in the midst of an
extraordinary peak season as we handle record-breaking volumes and deliver
strong service for our customers. While our regular peak season falls in
November and December, our preparations were months in the making this year.
"In
many ways, we have been operating at peak like levels since March due to
service and e-commerce volume," said Mr Subramaniam.
"We
planned meticulously throughout this year, including collaborating with our
customers on innovative solutions, enhancing capacity through new and repurpose
facilities and leveraging the flexibility of our network to ensure we are
well-positioned to deliver during our busiest holiday shipping season to
date."
Source
: HKSG.
Tidak ada komentar:
Posting Komentar