Forward Air announced Thursday it has completed the acquisition of Omni Logistics. The transaction’s closing ends a bitter legal dispute between the two parties. A news release said the deal, which likely closed at a total purchase price of $2.1 billion, is expected to create a “category leader in the expedited LTL market.” The initial…
A former vice president at Polar Air Cargo pleaded guilty last week to participating in a scheme to defraud the company of $52 million for more than a decade. Six of nine individuals charged in the plot have presented guilty pleas so far. Polar Air Cargo is a joint venture between privately held Atlas Air…
Truckload carrier Marten Transport saw its fourth-quarter net income decline by more than half from the corresponding quarter of 2022. The financial report reflected about what one would expect from a truckload carrier in the middle of a freight recession. Revenue was down across the board at the company. At Marten’s Truckload division, operating revenue…
American Airlines (NASDAQ: AAL), unlike its peers, didn’t experience a bump in cargo business during the peak shipping season that ended in mid-December. Cargo revenue was $199 million during the fourth quarter, a 24.2% decline from the same period in 2022, the Fort Worth, Texas-based carrier said in its earnings report released Thursday. The sales…
The American Trucking Associations (ATA) welcomed five major new federal investments by the Department of Transportation that will add approximately 1,000 truck parking spaces and make it easier for drivers […]