Freightways arranges extra $50m of funding

Thu, 14 May 2020

Freightways has increased its banking facilities by $50 million to ensure the firm can cope with the weaker economy.Chief executive Mark Troughear said some facilities that had been set to mature in 2021 had also been extended by two years.Troughear said the firm had been nimble in adjusting its operations since the crisis started and would continue to adapt to changes in activity levels.Groupwide, total revenue dropped by an average of 32 percent in April but had improved during that time both in terms of volume and type of activity.Express pa...

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