UPS is still confident about its operations in Europe, the firm's president has said.

The president of parcel delivery and courier firm UPS has said he remains confident of the potential for trade between Europe and Asia, despite the recent economic turbulence and other issues in the former.

Speaking to the Financial Times while at the opening of the brand new UPS Asia pacific outlet, in the Chinese city of Shenzhen, Dan Brutto said that while Icelandic volcano and Greek economic troubles have somewhat impacted operations, he still believes there is a strong outlook for Asia and Europe trade.

UPS had to divert some parcel delivery flights last month, after it was forced to close down its main European hub in Hamburg.

Commenting on the upcoming opening earlier this month, Mr Brutto said it "makes sense" for UPS to expand its Asia operations.

"Since we began flying directly to China in 2001, we have watched this region grow exponentially not only from a small package perspective but also in heavy air freight," he said.

He said that it was now wise to have a hub nearer to its Chinese customers.

Posted by Tom Sands.

Article Added: 19/05/2010 16:24:22