Korean Air, the fifth-largest cargo shipping airline, on Wednesday said cargo revenue in the second quarter plunged 56% to $748.8 million, further illustrating how a weak freight market has impacted Asian carriers more than others. Korean Air has a fleet of 155 aircraft, including 23 widebody freighters (Boeing 747s and 777s). A strong recovery in…
UPS Inc. should be able to offset the higher labor costs from its tentative five-year contract with the Teamsters union with manageable domestic price increases over the life of the agreement, Deutsche Bank said Wednesday. After analyzing the 48-page master contract as well as union documentation, Amit Mehrotra, Deutsche Bank’s primary transport analyst, said in…
OTR Solutions announced Tuesday it has launched OTR Clutch, a banking application for carriers. OTR Clutch enables all U.S.-based carriers to open what functions much like a standard bank account. Fleet managers can extend account access to others and set spending limits on cards. Those that utilize OTR Solutions for their factoring needs can link…
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A dispute between the Teamsters and a company that provides multiple logistics services — which have faced off previously before the National Labor Relations Board — is being looked at by labor attorneys as a key battleground in the fight over independent contractor status and unionization. On July 20, William Cowen, a regional director at…