UPS air freight business

United Parcel Service (UPS) has reported a 12.2% drop in its first-quarter net income to $911 million, mainly caused by the severe winter weather in the US. However UPS did post a 24.4% increase in its air-intensive international package business, that made an operating profit of $438 million in the three month period with a 5% rise in revenue to $3.13 billion. “Our international export volume was 7.7% higher, with Europe leading the way,” Kuehn said. Overall company revenue rose 2.6% year-over-year in the first quarter to $13.78 billion.