Bangkok--Nov 17--Ogilvy Public Relations Worldwide
UPS (NYSE:UPS) last week began the first of 12 new flights to China with MD-11 service to Shanghai. The new flights, recently awarded to UPS by the U.S. Department of Transportation (DOT), will triple UPS’s current service from six to 18 flights a week and comes on the heels of UPS’s impressive 129% growth in China export volume in the third quarter.
“Thanks to these flights, we are moving ahead of customer demand to provide even greater service in the world’s fastest growing economy,” said David Abney, president, UPS International. “China is probably the most exciting business opportunity in a generation and our growth numbers from the country show that customers are turning to UPS for the efficiency and reliability of its worldwide network.”
UPS has been serving China since 1988 and is the only U.S. cargo carrier providing daily, non-stop service to and from the United States and China, which started when the company was first granted China aviation rights in 2001. These most recent grants of access will increase UPS’s Shanghai service to 12 flights per week. Then next year, UPS will inaugurate the remaining six flights to provide the first-ever non-stop service between the U.S. and Guangzhou in the fast-growing Pearl River Delta. With these flights, UPS is on the road to building its hub in Shanghai and serving directly the three key regions in China — the Pearl River Delta, Yangtze River Delta and Bohai Bay.
“These additional flights to Shanghai and Guangzhou and our plans to establish a hub in Shanghai, will allow UPS to further connect this critical, seven-day-a-week economy to Asia and the world,” added Ken Torok, president, UPS Asia Pacific. “We plan to become a top-tier player in China, and are continually looking at options that will benefit our customers.”
Last year, UPS took an ownership position in Sinotrans and also became the first foreign carrier to form a commercial agreement with a domestic Chinese air carrier, Yangtze River Express, cutting a day off delivery times. UPS also established its Greater China office out of Shanghai as a sign of its increased commitment to the China market.
In addition, UPS is offering enhanced access to the fast-growing intra-Asia trade through the company’s hub in the Philippines. In its most recent quarter, UPS reported a 29% increase in export volume across the Asia Pacific Region.
To facilitate that growth, UPS recently launched an additional six weekly flights between Hong Kong and its intra-Asia hub in Clark Field, the Philippines. UPS customers now can take advantage of even greater flexibility provided by “double-daily” flights from Hong Kong, via Singapore to Clark and the rest of Asia. All of Asia’s major economies are within a four-hour flight from UPS’s intra-Asia hub.
UPS is the world’s largest package delivery company and a global leader in supply chain services, offering an extensive range of options for synchronizing the flow of goods, information and funds. UPS’s stock trades on the New York Stock Exchange (UPS) and the company can be found on the Web at ups.com.
Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements, including statements regarding the intent, belief or current expectations of UPS and its management regarding the company's strategic directions, prospects and future results, involve certain risks and uncertainties. Certain factors may cause actual results to differ materially from those contained in the forward-looking statements, including economic and other conditions in the markets in which we operate, governmental regulations, our competitive environment, strikes, work stoppages and slowdowns, increases in aviation and motor fuel prices, cyclical and seasonal fluctuations in our operating results, and other risks discussed in the company's Form 10-K and other filings with the Securities and Exchange Commission, which discussions are incorporated herein by reference.
Contacts: Susanna Muk
Ogilvy Public Relations Worldwide
Tel: (02) 632-8300-7 / Fax: (02) 266-7882
Phongchayut Ladavalya
UPS Parcel Delivery Service Limited
Tel: (02) 712-3090 / Fax: (02) 381-0980 End.