Pilot Air is benefiting from DHL/Airborne deal

Pilot Air is benefiting from DHL/Airborne deal

Pilot Air Freight is an indirect beneficiary of DHL's acquisition of Airborne Express. Pilot reported record first-quarter earnings for the period ended March 31, with total revenues of $64 million, up 9% over the same period a year earlier. During the period, Pilot handled 212,100 shipments (up 5%), or a total of 106.6 million pounds (up 11%).

Pilot officials say a highlight of the quarter was the 22% increase in international shipping ($10.9 million). Revenue on international shipments totaled $4.5 million, up from $3.1 million the prior year.

Earlier this year, Pilot announced the formation of the World Freight Alliance, a worldwide network of independent freight forwarders. The Alliance, which Pilot says extends its reach to 10,000 markets, came about following DHL's acquisition of Airborne Express. In the course of DHL/Airborne rationalizing the two global networks, a number of forwarders in markets outside the U.S. were left without a U.S. partner. Pilot was able to form an alliance with a number of these forwarders, providing a U.S. link for them and expanding Pilot's global presence.

So far, the alliance, which has been in place for less than a full quarter, has clearly helped drive results at Pilot.

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June, 2004

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