Major trucking companies reported uneven financial results as effects from the COVID-19 pandemic played havoc with freight volumes. Then there was YRC Worldwide, whose four operating trucking company units control 10% of the $46 billion less-than-truckload (LTL) sector, and continued to lose money in the second quarter. But those losses may soon be a thing of the past. YRC, citing its strategic position as a key carrier for the Defense Department, recently secured $700 million in financial aid from the federal government in exchange for a 30% stake in the company.
Source: logistics Mgmt