Freightways is expecting to lose $1.5 million in gross earnings at its Christchurch branches for the 2011 June financial year, because of the 22 February Christchurch earthquake.
The courier and information management company says its staff are safe and its five main sites in Christchurch received only minor damage.
But while Freightways itself was soon up and running, it says, not all its customers are fully operational. And though it has business continuity insurance, that doesn't cover lost revenue in its express package businesses.
Freightways says that after analysing freight volumes in and out of Christchurch since the earthquake, it appears some lost revenue may not be recovered.
The company made gross earnings of $64 million last year, and analysts expect it to make about $69 million this year.
