Asia Air-Freight Competition Surges as UPS, FedEx Add Flights

Discussion in 'The Latest UPS Headlines' started by cheryl, Mar 28, 2011.

  1. cheryl

    cheryl I started this. Staff Member

    Asia Air-Freight Competition Surges as UPS, FedEx Add Flights - Bloomberg

    United Parcel Service Inc. (UPS) plans to add four flights a week from Hong Kong to Europe and FedEx Corp. (FDX) will start a new nonstop route from its Tennessee hub to South Korea as growth in Asian shipping demand outpaces the U.S.

    About 27 percent of UPS’s revenue came from international markets last year, and volume on international packages jumped almost 14 percent, or about 7 times as much as domestic deliveries. U.S. exports to South Korea rose 35 percent to $38.8 billion in 2010, FedEx said, citing U.S. Census Bureau figures.