Kuehne Nagel 9-months air logistics turnover up 78 percent on strong volumes

Kuehne Nagel Group, one of the world's leading logistics companies based in Switzerland, reported a 78 percent increase in air logistics turnover to CHF 6.6 billion for the first nine months of 2021 from CHF 3.7 billion during the corresponding period of 2020 on strong volume growth.

Air freight volumes during the first nine months of 2021 were around 50 percent higher than in the same period of the previous year at 1.6 million tonnes of which around 20 percent is attributable to the acquisition of the Chinese air freight forwarder Apex, Kuehne Nagel said.

“With strong volume growth, air logistics once again posted market share gains in the third quarter of 2021,” the statement said. “Globally limited cargo capacities required tailor-made customer solutions. Services for pharma and essential goods as well as e-commerce continued to be in high demand.”