Logistics warehouse operator Prologis beat second-quarter estimates Wednesday, reporting core funds from operations (FFO) of $1.34 per share, which was 1 cent ahead of the consensus expectation. The company said demand is improving in what it categorized as an “uncertain macroeconomic environment.” Rental revenue increased 12% year over year to $1.85 billion while consolidated revenue…
The Federal Aviation Administration has proposed a civil penalty of $400,000 against cargo airline Kalitta Air for allegedly operating flights in a prohibited region when certain aircraft have a faulty multimode receiver. The agency announced Friday that Kalitta Air, based in Ypsilanti, Michigan, used prohibited procedures on 44 flights between late December 2022 and Jan….
Harman Cheema, president and CEO of Cheema Freightlines LLC, predicts the trucking industry will see more consolidation and fewer new entrants, and will draw more attention from “serious truckers.” Cheema was the keynote speaker at FreightWaves’ Enterprise Fleet Summit virtual event on Wednesday. He was joined by FreightWaves staff writer Grace Sharkey in a discussion…
Less-than-truckload carrier XPO announced Wednesday the launch of XPO Mexico+, which significantly expands its cross-border service in Mexico. XPO (NYSE: XPO) said the new offering improves delivery times as more capacity will be available and the company now serves seven crossing points at the border reaching 99% of Mexico’s postal codes. The service is CTPAT-certified…
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