Panalpina’s airfreight plunge

DURING 2011 Panalpina transported 845,000 metric tonnes of airfreight, a fall of five per cent on 2010’s 892,000 tonnes.

Gross profit per tonne of airfreight was up nine per cent (+21 per cent currency adjusted) thanks to a focus on yield.

The group has signed a new aircraft, crew, maintenance and insurance contract for two 747-8Fs. The aircraft will go into service in the first half of 2012 and operate in Panalpina’s own-controlled airfreight network, replacing two 747-400Fs.

The freight forwarder hopes to fill the decks with healthcare, hi-tech, automotive and oil and gas industry products.

Panalpina expects a zero per cent air cargo growth in the first half of the year

“2012 will be challenging. Expectations for near-term volumes are soft, especially in airfreight where we expect to outperform the market as of the second quarter,” chief executive officer Monika Ribar comments.

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