In the first 9 months of 2022, EBIT for the air logistics division was up 78.1% to CHF1.1 billion and by 35.1% in the third quarter to CHF323 million.
Volumes for the first 9 months were up 7%, with the first quarter proving strong registering 32.6% growth, followed by 2.7% in the second quarter before falling 7% in the third quarter.
Commercial airline operations were volatile due to the geopolitical situation and level of uncertainty, but demand for capacity was positive on most trade routes.
Kuehne + Nagel expanded its healthcare logistics footprint with regular charter flights from the pharma hub in Belgium to the Americas, Asia and Africa using MedConnex.
For the group, net turnover was up 40% to CHF30.6 billion for the first nine months and EBIT increased 71% to CHF3.1 billion.
Commenting on the group’s best-ever nine-month results, CEO Stefan Paul says that higher energy prices, inflation and geopolitical tensions are making supply chains more volatile.
He says, “At the same time, the easing in sea and air freight markets translates to some relief for our customers. Our asset-light business model is primarily focused upon responding to our customers' worldwide needs in a flexible manner while ensuring a high quality of service.”