UPS Airlines has announced the acquisition of Mexican express carrier Estafeta Carga Aérea. This transaction builds on the 2020 commercial agreement and is part of UPS's "Better and Bolder" strategy. The acquisition, financial details of which were not disclosed, is expected to close by the end of the year, subject to customary closing conditions and regulatory approval.
Estafeta Carga Aérea, which currently has six aircraft in its fleet - two Boeing 737-400(F) and four Boeing 737-400(SF) - will be integrated into UPS's existing infrastructure. Jens P. Grimm, President and CEO of Estafeta, sees the acquisition as an opportunity to accelerate growth and strengthen the global connections of the Mexican economy. This acquisition is expected to help UPS expand its global express service and better serve the growing markets in Mexico.