Estafeta grows H1 volumes by 12.5pct
Estafeta increased its volumes by 12.5 pct in the first half of 2008 despite a 6 pct drop in overall air cargo volumes in Mexico due to the impact of the slowing US economy, local media reported.
The leading express company handled a daily average of 58,800 shipments at its national hub at San Luis Potosí, in northern-central Mexico, which was equivalent to 180 tonnes a day.
“Our results in the first half-year are satisfactory. We grew by 12.5pct in cargo volumes, 5.5pct in domestic cargo and 48.1pct in international,” director general José Antonio Armendáriz was cited as saying. “We are convinced that we could grow even more if we were able to operate new stations abroad on the same conditions as other airlines, just we already do in Miami,” he commented.
The Mexican express market is facing difficult conditions due to higher fuel prices and the US economic recession, according to the Estafeta chief. Foreign carriers reduced their capacity in the Mexican market by 15pct in the first half-year while local airlines grew by 7.1pct, he said. But Armendáriz stressed: “Air cargo is a critical factor for the country’s competitiveness, although we still have to do much so that this sector can become a true catalyst for the national economy.
Estafeta is investing some USD 30 million (EUR 19 million) in its air network and infrastructure this year. The bulk of the investment will go on a runway extension at its hub at San Luis Potosí in northern-central Mexico that will enable international flight operations. It has also added two Bombardier CRJ jets with capacity of five tonnes to its fleet of five B737 cargo planes, which have capacity of about 14 tonnes and operate to 12 destinations within Mexico and abroad. Other new centres are planned in central Mexico.
In 2007, Estafeta increased net sales by 13pct to USD 250 million and carried 25 million shipments. It said at the start of this year that it is targeting 15pct revenue growth this year, partly to be generated through a new LTL trucking service covering Mexico and the USA.
