UPS to consider cutting 10% of pilots
The financial environment is paying a heavy toll on express major UPS, which has asked the International Pilots Association about ways to cut costs and still avoid cutting the pilot workforce by 10% across the company’s worldwide flights operation.
As part of its recent first-quarter filing, which revealed that company profits had dropped by 56%, UPS also announced that it had parked its 44-strong fleet of DC-8 freighters. That move meant that the company now operates around 218, down from 262, although UPS charters an additional 309 planes, according to the Business First website.
“One possibility is furloughs,” said UPS spokesman Mike Mangeot, according to Business First. “There are other options out there and we certainly want to explore as many as we can, but we have to be realistic about the business.”
The move comes as rival FedEx also made a recent decision to park some of its aircraft, and as Delta grounded its entire freighter fleet, as a result of the downturn in worldwide airfreight demand. The most recent March data from IATA is due within the next day or so.