Forward Air sees profits rocket

ROBUST airport-to-airport service demand and strong pricing have led to an 88 per cent escalation in fourth-quarter 2010 profits for US air cargo company Forward Air.

The company recorded a net income of US$11.8 million for the quarter ended 31 December, up from a profit of $6.3 million in the same period of 2009.

Operating revenue for the 2010 fourth quarter climbed 13 per cent to $133.3 million from $118 million in the same quarter of 2009.

“We were most encouraged by the continued positive leverage of our business model, which produced a 370 basis point improvement as compared to the fourth quarter of 2009,” chairman Bruce Campbell said.

Forward Air expects improving macroeconomic trends will continue throughout 2011.

Share this story

Related Topics

Latest news

Qatar Cargo sees volumes increase despite pandemic

By Damian Brett

Qatar Airways Cargo reported a 4.6% in cargo volumes in the fiscal year ending March 31 despite the loss of…

Read More

Share this story

21 Air looks to expand its fleet for peak demand

By Damian Brett

Freighter operator 21 Air has applied to the US Department of Transportation (DoT) for permission to double the size of…

Read More

Share this story

Lufthansa Cargo joins air cargo digitalisation project

By Damian Brett

Lufthansa Cargo has joined a new air cargo digitalisation project which aims to improve the networking of airfreight companies in…

Read More

Share this story