All UPS articles – Page 2
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News
ECJ blocks UPS' claim for TNT deal damages
Europe's top court has rejected UPS' claims for damages of more than €1.7bn related to its failed takeover of TNT in 2013.The European Court of Justice this week rejected UPS' claim against the European Commission (EC) for compensation for the "economic losses allegedly suffered due to the unlawfulness" of the ...
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NewsUPS to expand at Hong Kong International
Source: UPSUPS is expanding its presence at Hong Kong International Airport with the development of a huge new facility on the back of growing demand.The express giant has entered into an agreement with Hong Kong Airport Authority (HKAA) to develop a 20,000 sq m facility with direct access to aircraft ...
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NewsAir cargo outlook: Subdued demand expected in 2024
Source: Air Cargo NewsAir cargo executives are expecting air cargo demand in 2024 to be flat or at best slightly above this year's levels, according to speakers at the Tiaca Executive Summit event.Adopting probably the most positive outlook for air cargo demand in 2024 at the event was data provider ...
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NewsUPS completes acquisition of MNX
UPS acquires MNX. Image Source: UPSIn late September, Air Cargo News (ACN) reported on express services giant UPS acquiring time-critical logistics services provider MNX Global Logistics.That deal has now been completed, the acquisition closing on November 2 following the granting of all the required regulatory approvals.Long Beach-headquartered MNX provides services ...
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NewsUPS appoints new regional president as it targets UK-India trade
Ufku Akaltan. Source: UPSUPS has appointed Ufku Akaltan as the president for its business in the UK, Ireland, Nordics and India.Akaltan will lead the operations and growth strategies across the expanded district and will also be tasked with strengthening the firm's presence on the UK to India trade lane.He began ...
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NewsUPS Q3 revenues struck by soft demand
UPS has reported a 12.8% dip in third quarter revenues year on year, which it said was due to a drop in demand as a result of "unfavorable macro-economic conditions".The US integrated logistics solutions company said third-quarter 2023 consolidated revenues were $21.1bn.Consolidated operating profit was $1.3bn, down 56.9% compared to ...
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NewsUPS to acquire reverse logistics company
UPS has entered into an agreement to acquire US-based software and reverse logistics company Happy Returns from PayPal.According to UPS, Happy Returns aims to enable "frictionless, no-box, no-label returns for merchants and consumers" and reduce "the cost of e-commerce for all players and creating a more efficient, sustainable supply chain".The ...
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News
Forwarders warns of delays as Israel air cargo disruption continues
The ongoing Israel-Hamas conflict continues to affect airfreight and express shipments to Israel and the surrounding region, with many carriers and forwarders advising that services are subject to cancellation and delay.Many airlines have suspended direct flights to and from Israel, UK forwarder Woodland International warned on its website on 10 ...
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News
Cargo carriers warn of disruption on Israel operations
Israel's Civil Aviation Authority (CAA) has said international flights continue to operate to and from Israel following attacks on the country by Hamas over the weekend.The CAA said that currently "the Israeli airlines are operating as usual". The organisation added that currently "there are still international flights to and from ...
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InsightsTop 25 air cargo carriers: Cargo airlines tackle tough times
Cargo carriers faced multiple challenges to business growth in 2022, a year that presented a dramatically different operating landscape to 2021 (full chart at end of article).2022 proved to be a testing year for air cargo carriers following the boom years of the pandemic.The start of the Ukraine-Russia war had ...
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NewsUPS swoops on time-critical logistics firm MNX
Source: UPSExpress giant UPS has today announced a deal to acquire time-critical logistics firm MNX Global Logistics as it looks to ramp up its healthcare capabilities.Long Beach-headquartered MNX provides services covering next flight out (NFO), air charter, on-demand courier, managed transportation, service parts logistics (SPL) and specialty freight.Its clients include ...
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NewsUPS goes electric at East Midlands Airport
Artistic rendering of the autonomous electric cargo vehicle. Source: UPS/ AurrigoUPS and transport technology provider Aurrigo have announced a collaborative project to deploy an autonomous electric vehicle designed to move heavy cargo loads to and from aircraft at the UPS hub within East Midlands Airport.The "Auto-Cargo" vehicle can transport a ...
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News
UPS attempts to offload more than 100 pilots due to weaker demand levels
UPS is offering severance packages to hundreds of pilots as the express giant reacts to lower demand levels.The company said that the move comes as it regularly assesses operations and makes adjustments accordingly."As part of our effort to efficiently manage our airline, we are offering a voluntary separation benefit to ...
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NewsUPS revenues drop by over 10% in second quarter
Express giant UPS showed it's not immune to the challenges of the current economic climate when it announced a second quarter drop in consolidated revenues of over 10% year on year.UPS said its second-quarter 2023 consolidated revenues were $22.1bn, a 10.9% decrease from the second quarter of 2022.Consolidated operating profit ...
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NewsUPS reaches agreement with unions to avert strike action
Copyright: UPSUPS and the Teamsters union have come to a tentative agreement over new pay and working conditions.The express giant had been facing potential strike action by around 340,000 union members when the current agreement expires on July 31.However, the two groups yesterday announced the "historic" agreement, which includes more ...
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News
UPS talks with unions set to resume as strike action looms
Talks between UPS and union representatives are set to resume next week with potential strike action less than two weeks away.The express giant urged quick action to finalise a deal with the Teamsters union saying that members would not work beyond July 31 when the current deal is due to ...
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News
US forwarders told to brace for UPS strike action disruption
US freight forwarders have been told to brace for the impact of potential strike action at UPS and major trucking firm Yellow Freight going insolvent.Brandon Fried, executive director of the Airforwarders Association, said that supply chains are facing a "perfect storm" that would disrupt the flow of goods across the ...
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News
UPS faces strike action in the US as talks collapse
UPS is facing the threat of strike action by its US workers after marathon talks with union representatives collapsed.The express giant and the Teamsters union yesterday accused each other of walking away from talks over a new contract for 340,000 full- and part-time workers.Workers represented by the union have already ...
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NewsJohn Bolla to lead UPS Healthcare
John Bolla. Photo: UPS HealthcareUPS has appointed John Bolla as the new president of its Healthcare arm.He brings two decades of experience in the pharmaceutical and healthcare industries, having previously worked for GSK and other pharma companies.He joined UPS in April 2022, leading global healthcare logistics and distribution operations in ...
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NewsUPS strengthens healthcare offering in Singapore
Photo: UPSUPS Healthcare has opened a purpose-built 8,700 sq m healthcare logistics facility to meet demand from businesses in the country’s growing healthcare sector.The $20m facility in the west of Singapore is located at Gul Circle, within easy reach of PSA Terminals, the manufacturing cluster at Tuas Biomedical Park and ...