Eric Kulisch
Wednesday, March 8, 2023
NYK Line bucks trend, exits cargo airline business
Shipping line NYK says operating Nippon Cargo Airlines is too expensive and plans to sell it to another Japanese carrier.
Shipping line NYK says operating Nippon Cargo Airlines is too expensive and plans to sell it to another Japanese carrier.
Nippon Cargo Airlines’ parent company is taking a $144 million charge against earnings.
Nippon Cargo Airlines is adding a Taipei stop due to demand from customers such as Flexport.
NYK Line, Japan’s largest shipping company had operating profit of $146.7 million, compared with a loss in the same period last year.
Flat November demand first time in 31 months global market hasn’t expanded.