Panalpina airfreight sees stable growth

INTERNATIONAL freight forwarding and logistics company Panalpina maintained overall profitability in the first nine months of 2014. Undeterred by ongoing restructuring, airfreight volumes grew four percent year-to-date, but unit profitability decreased due to margin pressure and currency effects.
“We have managed to keep up profitability in the first nine months of the year,” says Panalpina CEO Peter Ulber. “I am particularly pleased with our progress in logistics, where we have significantly reduced losses and are close to reaching break-even. We also showed continued good volume growth in airfreight.”
Panalpina expects the airfreight market to grow by three percent in 2014.