Kuehne+Nagel Downplays Red Sea Crisis Impact on Strong Air Logistics Performance
Kuehne+Nagel's air logistics division has reported a strong performance for the first quarter, despite a significant drop in the group's overall earnings. The company noted a 15% increase in air freight volumes, reaching 491,000 tonnes. CEO Stefan Paul attributed this success to effective cost management and a strategic focus on specialized cargo, such as perishables and aviation components. While acknowledging some sea-to-air freight conversion due to the Red Sea crisis, the leadership emphasized that their positive results are built on a solid business foundation rather than being solely dependent on geopolitical disruptions.
Official Source: https://theloadstar.com/kn-plays-down-hormuz-impact-on-performance/