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Kuehne+Nagel Posts 53% Profit Surge on High-Tech Air Freight Boom

Kuehne+Nagel delivered strong third-quarter results driven by surging demand for air cargo tied to cloud infrastructure, semiconductor shipments, and hyperscaler business. Pre-tax earnings reached $527 million, up 53% year-over-year, as the Swiss logistics provider captured significant market share from competitors. Air cargo volumes grew 10% annually and 7% sequentially, substantially outpacing the 6% market growth rate. The company's cost reduction program is delivering $242 million in annualized savings by year-end, accelerating ahead of schedule. EBIT climbed 84% in the quarter and is up 35% year-to-date. Market share gains accounted for 60-70% of volume outperformance. Dedicated freighter aircraft carried a substantial portion of volume growth. Management raised full-year earnings guidance based on nine-month performance and expects additional gains during peak season in higher-margin segments. Traditional e-commerce volumes declined significantly due to new EU customs fees and U.S. tariffs on low-value goods.