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Transportation

Big carriers keep FMCSA’s crackdown alive, Fuller says

FRISCO, Texas — Small carriers and brokers waiting for Washington to ease up on trucking enforcement should not expect relief from the next administration, FreightWaves founder and CEO Craig Fuller said Nov. 2, because the industry’s largest fleets now want the crackdown. Fuller gave the industry keynote at Optym’s Convergence 2026 conference. He tied together the federal push against non-domiciled commercial driver’s licenses, a Supreme Court ruling that opened brokers to negligent-hiring suits, and a $604 million jury verdict against C.H. Robinson. Together, he said, they mark the most transformative period in trucking since deregulation in 1980. For brokers and small carriers, he argued, that means fewer cheap trucks to hire and more liability for the ones they do. Fuller said he is frequently asked whether a change in administration would ease restrictions, let more new operators into the industry, or end enforcement. “And I will say no,” he said. “Follow the money.” The largest motor carriers, along with the American Trucking Associations and the Truckload Carriers Association, have concluded that tighter standards for hiring drivers are “desperately needed” and “the only way that they will survive,” Fuller said. That support, he argued, holds whichever party wins. window.googletag = window.googletag || {cmd: []}; googletag.cmd.push(function() { var gptSlot = googletag.defineSlot('/21776187881/FW-Responsive-Main_Content-Slot1', [[300, 100], [320, 50], [728, 90], [468, 60]], 'div-gpt-ad-1709668545404-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); googletag.pubads().enableSingleRequest(); googletag.pubads().collapseEmptyDivs(); googletag.enableServices(); setInterval(function() { if (!document.hidden) { googletag.pubads().refresh([gptSlot]); } }, 60000); }); googletag.cmd.push(function() { googletag.display('div-gpt-ad-1709668545404-0'); }); Fuller has tracked the non-domiciled CDL issue for more than a year. In a November 2025 debate with Ken Adamo, he said the federal interim rule on non-domiciled CDLs could remove 5% to 7% of drivers from the market. Lower standards sent drivers to small fleets For years, Fuller said, ATA argued that trucking faced a driver shortage, and much of the trucking legislation in Congress over the last decade cited it, including funding for driver schools. By lowering the barriers to entry, Fuller said, ATA and its members were “creating an environment that would result in their own demise.” Executives of his father’s generation expected new drivers to go to work for large fleets, he said, because they never pictured freight brokers becoming a primary channel for freight. Many of those drivers went to small operators that found their loads through brokers. Fuller traced the shift to the long-haul market. Owning a long-haul truckload carrier was one of the most profitable businesses in the country through the 1980s and 1990s, he said, until railroads won much of that freight with intermodal service. Brokers went from handling 6% of freight in the early 2000s to “probably in excess of 30%” today, Fuller said, as shippers’ procurement departments took over transportation buying and mandated bids. “The brokers are effectively the day traders in our industry,” he said. That access to loads changed how downturns end. Small carriers washed out in large numbers during the 2008 financial crisis, Fuller said, but they largely survived the Great Freight Recession that began in 2022. “The most deadly thing to happen to a trucking company is to run out of freight, run out of miles,” Fuller said. A carrier that covers its variable costs per mile, he said, can keep operating “for five to ten years without filing bankruptcy.” window.googletag = window.googletag || {cmd: []}; googletag.cmd.push(function() { var gptSlot = googletag.defineSlot('/21776187881/fw-responsive-main_content-slot3', [[728, 90], [468, 60], [320, 50], [300, 100]], 'div-gpt-ad-1665767553440-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); googletag.pubads().enableSingleRequest(); googletag.pubads().collapseEmptyDivs(); googletag.enableServices(); setInterval(function() { if (!document.hidden) { googletag.pubads().refresh([gptSlot]); } }, 60000); }); googletag.cmd.push(function() { googletag.display('div-gpt-ad-1665767553440-0'); }); Non-domiciled CDLs and the long downturn FreightWaves spent much of the downturn trying to explain how so many carriers stayed open, Fuller said. “We kept looking at the data and saying, where, how are they staying in business? It made no sense.” His answer is drivers holding non-domiciled CDLs and operators working outside the rules, often at lower pay. “We now know that’s probably the primary reason that this market suffered,” Fuller said. Steve Troyer, president of California Midwest Xpress, told FreightWaves in December that brokered freight moving more than 500 miles had routinely paid 25 to 75 cents a mile below his company’s operating costs for much of the prior three and a half years. Freight analysts have pinned the downturn on carriers that entered during the pandemic freight boom. In September 2024, FTR’s Avery Vise told DC Velocity the market still had “something on the order of 95,000 more for-hire carriers” than before the pandemic. When the U.S. Court of Appeals for the D.C. Circuit stayed FMCSA’s interim rule in November 2025, the majority wrote that, by the agency’s own data, non-domiciled CDL holders were “approximately 5 percent of all CDL holders but only about 0.2 percent of fatal crashes.” One judge dissented, arguing the five crashes behind that figure were not an exhaustive count. FMCSA’s final rule, published in February, took effect March 16. Crash rates and broker liability Fuller described trucking as suffering from “a security crisis, a safety crisis, and an economic crisis.” At least one major freight theft makes FreightWaves’ daily show every day, he said. On safety, his point was that crash rates climbed even as the largest carriers spent more on training than ever and ran the safest equipment the industry has had. Adding to the data challenges, the FMCSA does not track crash data by CDL category. window.googletag = window.googletag || {cmd: []}; googletag.cmd.push(function() { var gptSlot = googletag.defineSlot('/21776187881/fw-responsive-main_content-slot4', [[300, 100], [320, 50], [728, 90], [468, 60]], 'div-gpt-ad-1709668086344-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); googletag.pubads().enableSingleRequest(); googletag.pubads().collapseEmptyDivs(); googletag.enableServices(); setInterval(function() { if (!document.hidden) { googletag.pubads().refresh([gptSlot]); } }, 60000); }); googletag.cmd.push(function() { googletag.display('div-gpt-ad-1709668086344-0'); }); FMCSA’s Large Truck and Bus Crash Facts 2022, the latest edition of that report, shows large trucks involved in fatal crashes rising from 1.22 per 100 million vehicle miles in 2010 to 1.76 in 2022. NHTSA’s newer Traffic Safety Facts 2024 shows that rate has since eased to 1.58, with 5,340 people killed in crashes involving large trucks in 2024. Brokers, which Fuller said FMCSA oversees only lightly, now face their own compliance problem. On May 14, the U.S. Supreme Court ruled 9-0 in Montgomery v. Caribe Transport II that a state negligent-hiring claim against a broker falls under the safety exception of the Federal Aviation Administration Authorization Act. Brokers had argued the law’s preemption of state rules on their services blocked those suits. Before the decision, Fuller said on FreightWaves TV that a loss would be “an extinction event for a lot of freight brokers.” He said the call drew “a lot of heat.” Large brokers he spoke with after the ruling expected it to push smaller rivals out of business, Fuller said. Then, in July, a Dallas County jury returned the $604 million verdict in Lipe v. Lupus Superior, finding C.H. Robinson 23% responsible for a 2021 crash in Mississippi that killed three people. “It was an oh my god moment for them,” he said. C.H. Robinson has said the carrier held a Satisfactory FMCSA rating when it was selected and after a federal review of the crash. Fuller singled out the jury’s finding that the driver was effectively a C.H. Robinson employee, a theory the plaintiffs built on his use of the company’s app. The court confirmed the verdict in October, and Overdrive reported interest brings it to about $711 million, with the borrowed-employee finding leaving the broker exposed to nearly all of it. FMCSA’s own Safety Measurement System site warns that readers “should not draw conclusions about a carrier’s overall safety condition simply based on the data displayed in this system.” It treats any carrier without an Unsatisfactory rating or an FMCSA order to stop operating as authorized to run. window.googletag = window.googletag || {cmd: []}; googletag.cmd.push(function() { var gptSlot = googletag.defineSlot('/21776187881/fw-responsive-main_content-slot5', [[728, 90], [468, 60], [320, 50], [300, 100]], 'div-gpt-ad-1665767778941-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); googletag.pubads().enableSingleRequest(); googletag.pubads().collapseEmptyDivs(); googletag.enableServices(); setInterval(function() { if (!document.hidden) { googletag.pubads().refresh([gptSlot]); } }, 60000); }); googletag.cmd.push(function() { googletag.display('div-gpt-ad-1665767778941-0'); }); “So now, when you’re a freight broker, you’re hiring capacity, you’re on your own,” Fuller said. “The federal government is not going to help determine that aspect. You’ve got to do it yourself.” Brokers are already adjusting. By late May, C.H. Robinson had begun moving carriers to non-certified status based on their safety scores, though the company has not publicly tied the change to the decision. Shippers and warehouses named in suits The liability is spreading past brokers, Fuller said. He pointed to the suit over the crash that injured Dalilah Coleman, the girl President Donald Trump recognized in his State of the Union address. The amended complaint names Unilever and warehouse operator United States Cold Storage alongside C.H. Robinson, alleging they failed to verify the carrier that picked up the load. Fuller said he would bet at least 20% to 30% of loads leave a warehouse without anyone checking that the truck at the dock belongs to the assigned carrier. “It’s been a security problem, and now we have a litigation problem,” he said. window.googletag = window.googletag || {cmd: []}; googletag.cmd.push(function() { var gptSlot = googletag.defineSlot('/21776187881/fw-responsive-main_content-slot6', [[728, 90], [468, 60], [320, 50], [300, 100]], 'div-gpt-ad-1665767872042-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); googletag.pubads().enableSingleRequest(); googletag.pubads().collapseEmptyDivs(); googletag.enableServices(); setInterval(function() { if (!document.hidden) { googletag.pubads().refresh([gptSlot]); } }, 60000); }); googletag.cmd.push(function() { googletag.display('div-gpt-ad-1665767872042-0'); }); But the extent of broker liability is still being tested. In a concurrence joined by Justice Samuel Alito, Justice Brett Kavanaugh wrote that brokers “should be able to successfully defend against state tort suits if the brokers have acted reasonably.” C.H. Robinson has said it will appeal the Dallas verdict, and its May 14 statement on the ruling reports one serious accident claim for every 500 million miles driven on its customers’ loads. Looking ahead, those same shippers may revert to having more large asset based carriers in future bids due to these liability issues. A shipper that tenders a load to a carrier that hired its own driver and met the standards is in the strongest position, Fuller said. “And so my final prediction is that the asset carriers are going to win this round.” Why it matters: Brokers and shippers heading into 2027 truckload bids have to price two costs at once: liability for the carriers they pick, and fewer cheap carriers to pick from. For asset based carriers, this crackdown presents an opportunity to regain lost market share or push for higher rates. The post Big carriers keep FMCSA’s crackdown alive, Fuller says appeared first on FreightWaves.

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Transportation

Harbinger scores another $240M in latest investment round

Electric truck maker Harbinger has been racking up wins in recent months, and after scoring a $300 million order from international shipping giant FedEx and a defense contract with the US military, the company has drummed up another $240 million in Series D funding. more…

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Transportation

Compromised communications linked to 40% of stolen loads in Highway fraud report

A legitimate trucking company can have established operating authority, verified credentials and years of transportation history. But those records cannot guarantee that the person requesting freight actually controls the business. Criminals exploit trusted carrier identities to obtain shipments without immediately raising suspicion. Highway’s latest fraud findings document how compromised communications and ownership changes create opportunities for cargo theft. Highway’s third-quarter Freight Fraud Index reveals how criminals targeted established carrier accounts between July and September 2026. Ownership change reports increased 111.4% from the previous quarter but rose 12.4% year over year. Meanwhile, fraudulent and spoofed calls blocked by the company increased 90.3% year over year. These findings highlight growing identity-related concerns across the freight network. Despite these warning signs, Highway received fewer stolen load reports than during the previous quarter. The company recorded 184 incidents, representing a 28.1% quarterly decline. However, that figure remained 8.2% higher than the same period last year. Highway cautions that its findings reflect activity within its network, not nationwide cargo theft totals. In written comments to FreightWaves, Highway attributed part of the decline to stronger verification procedures within its network. The company highlighted increased adoption of authenticated rate confirmations and additional identity checks before releasing shipment information. Those measures aim to prevent unauthorized individuals from accessing freight through compromised carrier accounts. However, Highway cautioned against crediting any single measure for the entire decline. Highway emphasized that brokers must verify the individual accessing shipment information, not just the carrier. window.googletag = window.googletag || {cmd: []}; googletag.cmd.push(function() { var gptSlot = googletag.defineSlot('/21776187881/FW-Responsive-Main_Content-Slot1', [[300, 100], [320, 50], [728, 90], [468, 60]], 'div-gpt-ad-1709668545404-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); googletag.pubads().enableSingleRequest(); googletag.pubads().collapseEmptyDivs(); googletag.enableServices(); setInterval(function() { if (!document.hidden) { googletag.pubads().refresh([gptSlot]); } }, 60000); }); googletag.cmd.push(function() { googletag.display('div-gpt-ad-1709668545404-0'); }); Criminals accessed carrier email accounts and used familiar addresses to request sensitive shipment information. Brokers encountered messages that appeared to originate from trusted transportation partners. Highway attributed 40.2% of its third-quarter stolen load reports to compromised communications. Unlike the second-quarter statistic covering fraud vectors, this figure measures the share of reported stolen shipments involving compromised communications. The report identifies emailed rate confirmations as another vulnerability when criminals compromise carrier accounts. Unauthorized individuals can access shipment details through those inboxes. The risk extends beyond onboarding because criminals can gain access after brokers approve legitimate carriers. Its findings reinforce previous warnings about evolving freight fraud tactics. Highway documented cases involving carriers that accepted legitimate shipments before stealing the freight themselves. Direct theft incidents declined 16% quarterly, but their share of reported stolen loads increased from 31.3% to 36.4%. The company previously examined the shift toward direct cargo theft involving established carrier identities. Some operators collected multiple loads within several days before brokers discovered the missing freight. In its response to FreightWaves, Highway explained why these incidents present a particularly difficult verification challenge. The carriers involved may have established operating histories, legitimate equipment and trusted relationships with brokers. Their pickups can appear routine, making suspicious activity difficult to identify before the theft occurs. Unlike some other fraud methods, direct theft may offer fewer warning signs before a shipment disappears. Real credentials, different people Highway received 518 carrier ownership change reports during the third quarter. Its findings describe how criminals exploit established motor carrier authorities to obtain freight under recognizable company identities. A recent federal cargo theft case involving more than $12 million illustrates the potential consequences. Prosecutors allege conspirators took control of established trucking companies and impersonated previous owners to secure freight shipments. Alyssa Fleury serves as director of operations at PEI, a freight brokerage based in Griffin, Georgia. She described the challenges brokers face when established carrier credentials no longer reflect who controls the business. Her team has encountered unauthorized carrier substitutions, suspicious communications and trucking companies operating under familiar authorities. Those situations require additional verification beyond the carrier’s operating history. Fleury emphasized that legitimate credentials alone cannot establish who will actually transport the freight. “A carrier can look great on paper, with established authority and a clean history,” Fleury wrote. However, she cautioned that the individuals currently operating under that authority might differ from its previous owners. Her brokerage sometimes hires one carrier only to discover another trucking company arriving for pickup. Those discrepancies trigger additional checks of operating authority, insurance coverage and the relationship between the businesses. The distinction requires brokers to verify both the authorized contact and the company physically transporting the freight. window.googletag = window.googletag || {cmd: []}; googletag.cmd.push(function() { var gptSlot = googletag.defineSlot('/21776187881/fw-responsive-main_content-slot3', [[728, 90], [468, 60], [320, 50], [300, 100]], 'div-gpt-ad-1665767553440-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); googletag.pubads().enableSingleRequest(); googletag.pubads().collapseEmptyDivs(); googletag.enableServices(); setInterval(function() { if (!document.hidden) { googletag.pubads().refresh([gptSlot]); } }, 60000); }); googletag.cmd.push(function() { googletag.display('div-gpt-ad-1665767553440-0'); }); Highway reported that some buyers offered sellers money to falsely confirm that carrier ownership had not changed. These statements could conceal transfers involving established trucking authorities. Meanwhile, thefts associated with sold authorities declined from 21.1% to 7.1% of reported incidents. Highway says its ownership verification checks contributed to that decline. Another finding raises questions about carrier identity verification and screening under legitimate trucking authorities. Highway reported that 87% of direct theft events involved carriers with a particular identity verification history. Those carriers had at least one Highway user whose records included a non-domiciled or limited-term CDL designation. The company measured this association across reported direct theft events during the preceding 90 days. Asked how frequently the same verification history appears across its overall carrier network, Highway did not provide a percentage. The company confirmed that its Q3 Index lacks the network-wide comparison necessary to evaluate the finding. Without that baseline, the 87% figure cannot establish whether flagged histories occur disproportionately among carriers involved in direct theft. The association also does not establish that flagged users transported or stole the shipments. Highway estimates that targeted non-domiciled and limited-term CDL screening reduces available carrier capacity by approximately 7%. The calculation assumes brokers configure restrictions for higher-risk states and a defined historical review period. The company recommends evaluating these settings against individual transportation networks. Its report does not quantify how many thefts the screening measures prevented. FMCSA’s non-domiciled CDL rule took effect March 16, 2026. It limits eligibility for foreign-domiciled applicants to H-2A, H-2B and E-2 immigration classifications. Those licensing restrictions are separate from Highway’s fraud findings. The report does not establish that non-domiciled CDL holders are more likely to commit cargo theft. window.googletag = window.googletag || {cmd: []}; googletag.cmd.push(function() { var gptSlot = googletag.defineSlot('/21776187881/fw-responsive-main_content-slot4', [[300, 100], [320, 50], [728, 90], [468, 60]], 'div-gpt-ad-1709668086344-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); googletag.pubads().enableSingleRequest(); googletag.pubads().collapseEmptyDivs(); googletag.enableServices(); setInterval(function() { if (!document.hidden) { googletag.pubads().refresh([gptSlot]); } }, 60000); }); googletag.cmd.push(function() { googletag.display('div-gpt-ad-1709668086344-0'); }); Thousands of shared identities and vehicle records Highway identified 22,020 vehicle identification numbers appearing on insurance certificates for multiple carriers. Among those records, 975 appeared across at least three authorities. Another 104 connected to five or more trucking businesses. One VIN appeared on certificates involving 15 different companies. The report also identified 5,336 identity documents associated with multiple Highway user accounts. Of those, 746 connected to more than one carrier authority. Highway cautions that shared records do not automatically indicate fraudulent activity. Equipment leasing, affiliated businesses and clerical errors can produce legitimate overlaps. Geographically, California remained the leading pickup location for stolen loads reported to Highway. The state accounted for nearly half of the company’s third-quarter incidents. New Jersey ranked second, followed by Texas. General merchandise, electronics and bulk commodities represented the most frequently targeted freight categories. Highway identified Colombia, India and the Philippines as the leading recorded origins of blocked foreign sign-in attempts. Its systems flag suspicious access originating outside a user’s home country. However, criminals can disguise their internet connection locations through technical methods. The recorded country therefore does not necessarily identify where an individual physically operated. Highway also blocked 670,230 fraudulent inbound emails during the quarter. That figure represented a 10.6% increase compared with the previous year. Unauthorized FMCSA contact changes reached 15,491, climbing 12.7% from the second quarter. These indicators demonstrate the volume of suspicious activity the company’s systems encountered. Highway expects holiday shipping demand to create additional opportunities for cargo thieves during the fourth quarter. Tighter capacity could increase pressure on brokers to bypass established verification procedures. The company recommends confirming authorized carrier contacts, checking driver information and documenting exceptions before releasing shipments. Its findings emphasize maintaining those safeguards during urgent bookings, including nights and weekends. window.googletag = window.googletag || {cmd: []}; googletag.cmd.push(function() { var gptSlot = googletag.defineSlot('/21776187881/fw-responsive-main_content-slot5', [[728, 90], [468, 60], [320, 50], [300, 100]], 'div-gpt-ad-1665767778941-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); googletag.pubads().enableSingleRequest(); googletag.pubads().collapseEmptyDivs(); googletag.enableServices(); setInterval(function() { if (!document.hidden) { googletag.pubads().refresh([gptSlot]); } }, 60000); }); googletag.cmd.push(function() { googletag.display('div-gpt-ad-1665767778941-0'); }); Why it matters Legitimate operating authorities and established carrier relationships cannot independently establish who controls a shipment. Freight brokers must verify the individuals requesting freight before granting access to sensitive information or releasing cargo. CFCO In my opinion, Highway’s findings reinforce a critical lesson: Fraud prevention cannot stop at carrier onboarding. The Certified Fraud Compliance Officer (CFCO) program teaches transportation professionals to verify identities, investigate suspicious activity and make consistent decisions. Technology can identify warning signs, but trained employees must know how to respond. The most expensive mistake is often the one your team was never trained to recognize. window.googletag = window.googletag || {cmd: []}; googletag.cmd.push(function() { var gptSlot = googletag.defineSlot('/21776187881/fw-responsive-main_content-slot6', [[728, 90], [468, 60], [320, 50], [300, 100]], 'div-gpt-ad-1665767872042-0').defineSizeMapping(gptSizeMaps.banner1).addService(googletag.pubads()); googletag.pubads().enableSingleRequest(); googletag.pubads().collapseEmptyDivs(); googletag.enableServices(); setInterval(function() { if (!document.hidden) { googletag.pubads().refresh([gptSlot]); } }, 60000); }); googletag.cmd.push(function() { googletag.display('div-gpt-ad-1665767872042-0'); }); Click here for more articles on cargo theft and freight fraud by Phil Brink. CBP seizes 1,000-plus pounds of meth in produce truck at Texas border – FreightWaves $500,000 SIG Sauer shipment stolen in fictitious pickup, two arrested in California – FreightWaves Stolen shoes on eBay lead police to $1 million in missing BNSF train cargo – FreightWaves The post Compromised communications linked to 40% of stolen loads in Highway fraud report appeared first on FreightWaves.

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Transportation

5 American, 6 Canadian: Workhorse W56 arrives in the True North

Electric truck brand Workhorse is bringing its W56 Class 5 and 6 electric trucks to Canada thanks to a new agreement with a Canadian dealer group and fleet management provider offering truck and trailer sales, parts, repair, and 24/7 roadside assistance and towing services across the Northern nation. more…

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Transportation

Europe: ‘We see a supply gap for hauled coaches and locos’

Leoš Novotný, founder of Leo Express and the Leo Mobility Management rolling stock leasing company, explains to Benjámin Zelki how his latest venture will function as a ‘Booking.com for rail operators’, providing fast access to rolling stock and financing while disrupting the established Rosco model. ‘We see a supply gap for quick, scaleable solutions on the European passenger rolling stock market’, says Leoš Novotný, founder of the Leo Mobility Management rolling stock leasing company, speaking exclusively to Railway Gazette International on the back of InnoTrans 2026. Novotný, who is perhaps best known as the founder of open access operator Leo Express in 2010, says the size of the gap is significant. ‘We identify a demand for at least 3 000 passenger coaches and 300 locomotives, primarily on international main lines, both second-hand and new-build. This is all by the year of 2030 and across all European operators, including publicly owned or private’, he predicts. He explains that Leo Mobility Management was set up in 2025 as a rolling stock leasing company to address this gap in the market. Subsequently, ‘we engineered the Trainshop.com platform to provide procurement and financing all in one’, he adds. ‘This market need was identified by an analysis carried out by Berlin-based market research consultancy SCI Verkehr, which we commissioned in October 2023 for €50 000.’ ‘Booking.com for trains’ Novotný explains that Trainshop.com is an e-commerce platform, which he likens to ‘Booking.com for train operators, where they can configure, order and get financed their needs all on one platform. We believe that the rolling stock leasing space in Europe is very old-fashioned. We wanted to be a modern Rosco that does things differently. ‘At Trainshop.com, operators can assemble a complete trainset, configure the passenger interiors to fit the type of service required. They can select the particular countries of service, the desired maximum speed of operation and add the required certification needs.’ For state-owned operators, the platform will also process the tender documentation so that the procurement complies with the relevant European legislative and regulatory conditions. LMM anticipates that the delivery lead time for a generic trainset could be around two years. Investment bank backing After configuring their desired trainset, Novotný explains that operators ‘can select the preferred method of financing, the level of downpayment they wish to allocate, as well as assess the available lease rate. Options include rates based on train-km, but loan or permanent purchase are not available. The provision of financing is a very important element of Trainshop.com, as we see financing often being the bottleneck, not just for the privately owned, but also for state-owned operators. ‘The entire financing model is underwritten by a global investment bank headquartered in London that understands rail. We teamed up with this company. I cannot disclose their name now, but hopefully soon we will’, Novotný explains. When the order is completed, Trainshop.com draws up a draft manufacturing agreement with the original equipment manufacturer and outline financing agreements with the relevant leasing companies and the investment bank. This then produces the deal documentation for signing. Negotiating with OEMs The rolling stock pool currently available on Trainshop.com consists of a number of secondhand and new-build locomotives capable of operating in the 200 to 230 km/h range, including Taurus and Vectron models from Siemens Mobility, as well as a small number of secondhand locos from Alstom. ‘These models are already available on the secondhand market in large numbers, and as soon as we get the reservation from an operator, we acquire them,’ Novotný says. ‘On top of this, we are now negotiating with half a dozen of the main suppliers, well-known on the European market, for new-build passenger coaches and locomotives’, he adds, again without elaborating on the specific suppliers involved. ‘We love the Vectouro [hauled coach design recently launched by Siemens Mobility] and we want to sell it on Trainshop.com with our Neo coaches,’ Novotný responds when asked how LMM’s offering differs from the direct-to-market proposition of an original equipment manufacturer, with or without a conventional leasing company. Siemens’ platform includes driving cars and several types of intermediate coaches including dining cars. Novotný says that ‘the most notable difference is that Trainshop.com is not tailored to any supplier or leasing company, so anybody can configure, order, and at the same time get financing for a trainset by any OEM that corresponds directly to their needs.’ Magyar Vagon secures Neo coach contract In a deal announced at InnoTrans 2026, Leo ­Mobility Management has selected Hungarian rolling stock manufacturer Magyar Vagon Vasúti Kft to supply 200 Neo modular passenger coaches that can be configured to meet operator requirements. The Neo coaches will be designed for operation at up to 200 km/h, and will have full TSI certification. They will have interiors assembled from standardised modules under a design concept developed by NeoMind. The interior of the coaches will be configurable by the customers according to the type of route, capacity and level of service. This could range from a high-density vehicle with 150 places and perch seats through a standard economy layout with 104 seats to 50 in business or just 40 in a sleeper configuration. It would also be possible to combine a mix of classes in a single vehicle. ‘Over the past decade we have delivered coaches to a number of operators around the world. We know that their requirements change faster than a coach reaches the end of its life’, said Dr László Ludvig, CEO of Magyar Vagon Vasúti Kft. ‘The design must adapt to that, and the Neo platform has been developed around this philosophy from the outset. That is why we have joined this project.’ Szolnok-based MVV specialises in building and repairing rolling stock, particularly for Hungarian national operator MÁV Személyszállítási Zrt, which holds a 25% stake in the business. The remaining 75% is held by the Magyar Vagon group, which owned the Dunakeszi Járműjavító plant in Hungary before it was taken over by the state in December 2025. ‘Neo’ and ‘Evo’ Novotný envisages a pool of passenger coaches for LMM made up of both secondhand and new-build vehicles. ‘Secondhand coaches will be refurbished into a standard what we call “Evo”. They look same as Neo, but are built on a secondhand frame. And there will be the standard what we call the “Neo” which is a new-build inventory.’ The pool available on Trainshop.com currently consists of the 200 coaches ordered from Magyar Vagon, but Novotný insists that ‘Trainshop.com is going to evolve every week’. Magyar Vagon Vasúti Kft is ‘the first, but not not the only company with which we have signed an agreement. ‘We are at about a 40% reservation rate for the Magyar Vagon deal, so 80 coaches ordered. We are filling up the orders and we expect to commence the manufacturing when we have all the 200 coaches booked’, he adds. ‘I see clear demand for refurbished secondhand coaches,’ Novotný says. ‘Previously, in 2023, as part of a Czech financial group, I was co-founder of another leasing company called Creditas Mobility. We started acquiring secondhand rolling stock, mainly coaches. Creditas Mobility now has 115 refurbished secondhand passenger coaches purchased from European operators, including Deutsche Bahn and the Netherlands’ NS. These were refurbished for operators including Austria’s ÖBB and private operator FlixTrain. I sold my shares in 2024 and we are now operating independently.’ Creditas has confirmed to Railway Gazette International that it no longer has any involvement with LMM or a working relationship with Novotný. An imaginary train configured As recommended by Novotný, Railway Gazette International had a go at configuring a train order for an imaginary Budapest – Wien – Praha open-access service at Trainshop.com. We selected the financially most viable offer for ordering four secondhand Taurus locos which are already certified for the desired countries and 32 yet-to-be built standard class coaches from MVV. This generated a monthly lease cost of €997 500 that included maintenance. However, there were trade-offs: the hauled coaches were limited to 200 km/h operation, rather than a more commercially desirable 230 km/h, but Novotný insisted that ‘Trainshop.com will have 230 km/h cars too, very soon’. ‘What doesn’t kill you, makes you stronger’ ‘I am still a board member and a shareholder in Leo Express, but minority and passive’, Novotný says as he reflects on his experience with the eponymous business he founded. Since August 2021, Spanish national operator RENFE has held 50% of the shares, the largest stake in Leo Express. ‘They are in control, they run the show and grow the business. For me, it is rather a previous chapter of my career’, he says. ‘With Leo Express, I learned all the good things about the asset space, the maintenance space and the operating space, and all those ­experiences have helped us in starting up LMM and Trainshop.com. ‘The story of the competition of Leo Express, RegioJet and incumbent České Dráhy competing for the Czech market in the last over 15 years reminds me of the story of Microsoft, Apple and IBM in the 1980s-90s. There were the three big players on one market, killing each other. And, as the saying goes, what doesn’t kill you, only makes you stronger. It was a tremendous success story for liberalisation, resulting in a serious growth of the market, ultimately benefitting Czech passengers. Policy: Incumbents and new entrants face shared uncertainty, warns ČD ‘We have learned how to optimise the utilisation of the assets, the super-efficient maintenance of our trainsets, carried out often overnight and ­during operations. We learned how to finance and insure our equipment, and how to work with ­drivers, software, and also how to provide onboard catering’, Novotný says. ‘All these learnings led us to understand the key significance of the available seat kilometre. It is a very important metric of your efficiency, helping to maximise the utilisation of our trains and minimise the unit cost. With that in mind, we’re providing ­Rosco services to our customers now. On top of the leasing service, Trainshop.com is also an advisory for our customers on how best to maximise utilisation and minimise the unit costs.’ Opportunities beyond the EU While LMM and Trainshop are initially focused on the European market , Novotný sees opportunities elsewhere. ‘I believe Turkey is up and coming. There are a lot of infrastructure investments underway and the demand for rolling stock is not being met by the supply chain, especially for new-build vehicles. We’re active in Turkey and have some ongoing discussions there, both in freight and passenger rolling stock leasing. ‘North America is another promising market’, Novotný predicts.‘I spent some time there previously and we will be looking into providing the same Rosco services in Canadaand the USA.’ This article first appeared in the October 2026 issue of Railway Gazette International Read the issue

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Transportation

Why Aviation Automation Still Hasn’t Reached Small Planes

#fwtv_b9mpDt1DSww .fwtv-panel{border:1px solid #d0d0d0;padding:18px;border-radius:6px;line-height:1.6}#fwtv_b9mpDt1DSww .fwtv-panel p{margin:0 0 12px}#fwtv_b9mpDt1DSww .fwtv-note{font-style:italic;color:#666;margin-top:16px;padding-top:12px;border-top:1px solid #e0e0e0}Self-flying planes are closer than most aviation and freight pros think. Reliable Robotics CEO Robert Rose breaks down why small aircraft still operate with outdated systems, what true aviation automation requires, and where autonomous cargo aircraft fit in the supply chain. Rose shares how his time at SpaceX shaped his approach to safety, software and certification — and why he believes aviation has no excuse to stay this primitive. #AutonomousAviation #CargoAircraft #FreightTechReliable Robotics, the autonomous aviation startup founded by former SpaceX software engineer Robert Rose, has raised more than $400 million and is now in execution mode on a FAA-approved roadmap to certify pilotless cargo aircraft, Rose said in an interview at the Up Summit. The company is modifying Cessna Caravans — a workhorse of small air freight — with its own flight computers, actuators, and sensors under a supplemental type certificate, targeting scheduled cargo runs between Albuquerque, Santa Fe, and Durango, New Mexico. The company completed its first series of demonstration flights last month at Albuquerque Sunport under the FAA’s eVTOL Integrated Pilot Program (EIPP), taxiing among commercial air traffic and flying instrument approaches. The next phase, expected to begin next year, will be point-to-point flights between Albuquerque and Santa Fe, eventually with no pilot on board. The core product is a ground control station built around an off-the-shelf flight management system. An operator programs a route via touchscreen, uploads it to the aircraft, and the plane executes the plan autonomously. The system cannot be commanded to fly into terrain or obstacles, and every flight plan must terminate at a runway parking spot. Critically, there is no autopilot disconnect button and no remote yoke, joystick, or rudder pedals — the ground operator cannot take direct manual control of the aircraft. “There’s no AP disconnect button. There’s no remote yoke or joystick or rudder pedals or anything like that,” Rose said. A remote pilot remains in the loop primarily for airspace integration — communicating with air traffic control — but the aircraft is designed to operate fully autonomously if communications are lost, following lost-comm IFR procedures and executing automated collision avoidance maneuvers. The onboard radar covers 220 degrees around the aircraft and 40 degrees up and down, and uses an algorithm called ACAS X to perform evasive maneuvers. Rose noted that Congress is currently considering legislation to mandate ACAS X across the commercial fleet, starting with Part 121 carriers and eventually extending to general aviation. Rose said the company spent its first six or seven years working with the FAA to define a certification roadmap for autonomous aircraft without an onboard pilot. “The plans are signed off,” he said. “We just need to actually build and deliver the system that is described by these approvals.” Despite its capital raise, he described the business as relatively asset-light because it modifies existing airframes rather than manufacturing new ones, with most spending directed at safety analysis, software engineering, and avionics. On the question of pilot union resistance — a recurring obstacle for aviation automation — Rose was measured. Reliable Robotics is focused on Part 23 aircraft in Part 135 operations, well outside the scope of major airline labor agreements. He argued that automation will roll out incrementally, beginning with safety-enhancing features such as automated takeoff, landing, and taxiing, before any broader debate over cockpit crew numbers. “I think it’s going to take many years,” he said. “That’s a ways away.”Reliable Robotics has raised over $400 million and is modifying Cessna Caravans with autonomous flight systems under FAA-approved supplemental type certificates.The company completed its first demonstration flights at Albuquerque Sunport last month and plans pilotless Albuquerque-to-Santa Fe cargo flights starting next year.The autonomous system includes 220-degree radar and ACAS X collision avoidance; there is no manual override or remote joystick for ground operators.This Summary is generated thanks to a transcription of the interview, for the full interview please enjoy the video above. The post Why Aviation Automation Still Hasn’t Reached Small Planes appeared first on FreightWaves.

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