CALGARY, Alta. – Despite rumors that Consolidated Freightways Corp. is in considerable financial turmoil, Canadian Freightways’ president and chief executive officer says there’s no reason for concern.

Although he admits the company is going through a bit of a rough ride financially, there is no danger of bankruptcy in the foreseeable future, insists Darshan Kailly.

“They have their financial challenges,” says Kailly. “They’re just having a challenging year, which I think most companies are.”

He cites the events of Sept. 11 and the general slowing of the economy as the main contributing factors, but is confident the company will rebound. In fact he said that despite the challenges presented in recent months, the company remains in “great shape,” all things considered. Kailly also says there won’t be any major fallout in Canada, like what happened to rival TCT Logistics. Consolidated Freightways Corp. is a US$2.3 billion, 20,000-person organization providing transportation and logistics services on six continents.