AEI REPORTS 7-PERCENT DROP IN INCOME
Air Express International posted a 7-percent decrease in net income to
$12.7 million in the second quarter, as U.S. and Europe air exports
continued to lag.
Gross sales at AEI fell 1.4 percent to $373.3 million in the quarter,
while air freight sales declined 5 percent to $276.1 million. The forwarder
said that air freight market weakness in Europe and the U.S. was partially
offset by improvements in Asia.
Ocean sales and customs brokerage sales, which account for less of AEI’s
total revenue, improved by 8 percent and 17 percent, respectively.
Guenter Rohrmann, AEI’s president and chief executive officer, said he
"anticipates improvement in our air freight business in the second half of
this year."