Forward Air Raises Driver Pay
Forward Air Corp. said subsidiary FAF Inc. is increasing pay for owner-operators effective Jan. 4.
The base rate for owner-operators will increase 10 cents per mile for less-than-truckload team drivers, and rates for solo drivers in its Truckload Xpedited division will rise by 6 cents per mile.
“Since we began operations, we have strived to provide our owner-operators with excellent support and the best opportunity to succeed in the industry,” Forward Air CEO Bruce Campbell said in a statement. “Our new rate structure ensures that we will maintain this position for many years to come.”
After the increase, LTL team owner-operators will earn $1.08 per loaded mile and 98 cents empty, and solo LTL drivers will get 98 cents per mile loaded and unloaded.
Team owner-operators in the Xpedited division will make $1.15 per loaded mile and 98 cents empty, according to the Greeneville, Tennessee-based company. Solo drivers in that division will earn $1.06 loaded and 98 cents empty per mile.
All owner-operators with a hazmat endorsement will be eligible for a 2-cent rate increase. Drivers in trucks no older than 5 years old also are eligible for a 2 cents-per-mile rate increase, Forward Air said in a statement.
The company recently reported third-quarter net income rose to $16.7 million, or 54 cents a share, from $14.2 million, or 46 cents, a year ago. Revenue jumped 18.5% to $201.5 million.
Forward Air ranks No. 46 on the Transport Topics Top 100 list of U.S. and Canadian for-hire carriers.
