Forward Air is a North American transportation and logistics company focused on time-sensitive, premium freight. Its core offering sits between air freight and standard ground LTL in terms of both speed and price — fast and reliable, but meaningfully cheaper than air. Forward Air operates through three segments: Omni Logistics (~50% of revenue), Expedited Freight (~40%), and Intermodal (~10%). The Expedited Freight segment is the legacy business — an expedited LTL and truckload network covering roughly 96% of continental U.S. zip codes, marketed primarily to freight forwarders and 3PLs rather than end shippers directly. In January 2024, Forward Air acquired Omni Logistics, adding international air and ocean freight forwarding, contract logistics, customs brokerage, and warehousing, with a focus on Asia-to-U.S. trade lanes and customers in technology, retail, and life sciences. The Intermodal segment provides first- and last-mile container drayage at seaports and railheads, primarily in the Midwest and Southeast. The business model is asset-light — Forward Air relies heavily on independent contractor owner-operators for transportation capacity, keeping costs variable and capital intensity low. Expedited Freight has high operating leverage, as incremental shipments above fixed infrastructure costs are highly profitable. Forward Air is currently focused on cross-selling across the combined platform, expanding in Latin America and Asia Pacific, and consolidating legacy technology systems. The company is also conducting a strategic alternatives review, including a potential sale or merger, initiated in January 2025.