Hopeful economic sign: airlines are hauling more cargo - Hawaii News Now - KGMB and KHNL

Hopeful economic sign: airlines are hauling more cargo

By Howard Dicus - bio | email

HONOLULU (HawaiiNewsNow) - Most of the nation's airlines are reporting second quarter profits this week, but in one respect the best report of all comes from an airline you never fly.

United Parcel Service, the largest package-shipper in the air, reported Thursday an $845 million profit, up 90% from the second quarter last year, on revenue of $12 billion, up 13% from year-ago levels.

UPS is getting most of its new business from the Asia-Pacific region but U.S. shipments are up, too. CEO Scott Davis says consumer shipments are up but it's business shipping that's driving the numbers.

The major passenger airlines are also hauling more air freight:

  • Delta, up 22%.
  • American, up 28%.
  • United, up 51%.
  • Continental, up 35%.
  • US Airways, up 82%.

Most of these airlines are currently logging cargo sales measured in hundreds of million of dollars.

Copyright 2010 by HawaiiNewsNow. All rights reserved.

Powered by Frankly