Intra-Asia trade still looks optimistic to most business leaders, UPS Airlines President Bob Lekites said, citing UPS research at yesterday's opening session here in Dallas.
In his keynote speech, Lekites outlined plans for near-term growth in the U.S. and Asia. In addition to its expanding Worldport in Louisville, Ky., UPS is looking to Asia, and China in particular, to grow its global operations. He noted that UPS opened a base in Shanghai last year. It also plans to open an intra-Asia hub next year in Shenzhen.
To combat the recession, Lekites said UPS is reducing air segments, consolidating operational units, retiring older aircraft, and investing in newer aircraft, such as Boeing 747-400s and 767s.
While he acknowledged the down state of the economy, Lekites noted that UPS was founded during the 1907 recession and launched air services during the 1982 recession. The company is well positioned for when the economy recovers, he said.