Record air cargo revenues pushes Kuehne+Nagel’s annual profit to almost $3bn

Freight forwarder Kuehne+Nagel enjoyed record air-based revenues in 2022, reporting a 7.6% increase on the year before to CHF 11.7bn (US$ 12.4bn). The 20.7% earnings jump in air cargo contributed to the overall net profit of around CHF 2.8bn, a 30% increase on 2021, after the company’s sea freight revenue came to CHF 18.8bn, with road just short of CHF 4bn and contract logistics around CHF 1bn more. Airborne volumes were up by just 0.5%, however, and the price rises did not not last through the year with revenue for its air freight business falling by almost 40% year-on-year in