UPS, the world's largest package-delivery company, said it still believed there would be strong growth in Asia-Europe trade and would increase air services from Hong Kong and Shenzhen to Europe in July, despite the steep depreciation in the euro stemming from the Greek debt crisis.
The company said it would add one weekly flight each from Hong Kong and Shenzhen to Cologne, its European hub, said Daniel Brutto, president of UPS International, at the opening of the Asia-Pacific hub in Shenzhen yesterday.
'The strong European nations such as France and Germany are remaining very strong and England is isolated from the euro crisis,' Brutto said. Greece and Spain, which are at the heart of the euro crisis, are not major trading partners with China and Brutto says he remains positive about the outlook for export volume from Asia to Europe. In the first quarter, the express giant reported a 40 per cent year-on-year growth in export volume from Asia to Europe.
UPS Shenzhen Asia-Pacific Hub, which started a trial run in January, supports 90 weekly flights, mainly connecting Asian destinations with Shenzhen Airport.
The company said intra-Asia trade would continue to be the fastest-growing trade lane, and the Shenzhen hub could benefit from the robust trade growth within the region.
The express giant is considering whether to tap into the domestic express cargo market, now dominated by local players.
