Logistics

Kuehne+Nagel loses almost 40% on operations in first quarter

Sea freight in particular contributes to the decline in all of the Swiss logistics company’s business.
Kuehne+Nagel's road business also declined in the first quarter. | Photo: Daniel Reinhardt/AP/Ritzau Scanpix
Kuehne+Nagel's road business also declined in the first quarter. | Photo: Daniel Reinhardt/AP/Ritzau Scanpix
by ANJA HAUGE

Swiss logistics firm Kuehne+Nagel has seen a slow recovery in demand for sea and air freight in the first quarter. However, despite the recovery, all of the company’s divisions still reported a decline on Tuesday morning.

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