UPS profits hit by pandemic

Despite being designated by governments around the world as a Critical Infrastructure Business and operating in all major countries, UPS has reported a drop in profits in the first quarter of 2020.

There have been upward pressures on demand for much of UPS business. It is one of the leading businesses in the Federal Emergency Management Agency (FEMA) push to tackle issues around the pandemic and has laid on 200 extra flights to meet demand for supplies to meet the emergency’s demands in the US as well as for many countries in Europe.

“I want to thank all 495,000 UPSers for their extraordinary efforts to leverage the full power of our global network in the fight against the coronavirus pandemic, keeping critical goods moving for businesses and consumers globally,” said David Abney, UPS chairman and CEO. “The world is counting on UPS more than ever before as we support the people on the front lines of this crisis and our customers with speed, ingenuity and reliability.”