Air Cargo

Kuehne+Nagel Air Cargo Division Surges on Cloud and Semiconductor Demand

Kuehne+Nagel reported explosive growth in its air cargo operations during the third quarter, with revenues climbing 38% year-on-year to Sfr2.4bn. Earnings before interest and tax jumped 84% to Sfr169m, while gross profit increased 29% to Sfr404m. The Swiss logistics giant handled 619,000 tons of cargo, a 10% volume increase that significantly outpaced overall market growth. This marked acceleration from a 2% rise in the second quarter. Strong demand from cloud infrastructure and semiconductor customers drove expansion, complemented by general hard cargo shipments. Southeast Asia and China fueled regional performance. The company's nine-month air revenues reached Sfr6.2bn, up 16% year-on-year. Companywide third-quarter revenues totaled Sfr7.4bn with ebit climbing 53% to Sfr435m. CEO Stefan Paul attributed the results to operational resilience and a new Amazon partnership.