Author: Archive

Royal Mail's £480M monopoly losses spark fear of dearer stamps

Posted by | Aug 1, 2003 | |

Royal Mail made a loss of £480 million on its monopoly business last year, heightening fears that the price of stamps could be forced up again and that the postal group is on course for a another clash with its regulator.

Details of the losses will be presented today to Postcomm, the regulator in control of pricing and in charge of the four-year programme to allow competitors into the postal market. Postal executives are expected to seize on the scale of the losses to demonstrate the danger of setting access charges too low. Postcomm is considering how much Royal Mail should be allowed to charge rivals to use its network. It has suggested a fee of 11.5p per letter, against the 28p cost of a 1st-class stamp and 19p for second 2nd-class mail.

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DOT order limits scope of DHL inquiry

Posted by | Jul 31, 2003 | |

The U.S. Department of Transportation issued a decision that had something for everyone in the controversial DHL Airways case, which pits the world’s express giants against each other. In a victory for Deutsche Post World Net, owner of DHL International, the DOT ordered the administrative law judge conducting the inquiry to focus solely on the current ownership of DHL Airways, now Astar Air Cargo.

But in a victory for FedEx and United Parcel Service, the DOT dismissed Astar’s motion to terminate the entire proceeding.

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Pall-Ex nominated

Posted by | Jul 31, 2003 | |

Pall-Ex has become B&Qs first nominated freight carrier, after an initial trial. It will now also cover B&Qs national consolidation centre.

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McKinsey recommends opening Israeli mail market to competition in 2006-10

Posted by | Jul 31, 2003 | |

McKinsey and Co. has recommended to the Ministry of Communications to open Israel’s mail market to competition beginning in 2006 and finishing in 2010.
McKinsey predicts that the Israel Postal Authority will lose over NIS 500 million in revenue from opening the market to competition. McKinsey recommends opening the business mail market to competition on January 1, 2006, and gradually opening other sectors over a four-year period ending on January 1, 2010. A half-way station would be on January 1, 2008, and the private sector would be opened to competition on January 1, 2010.

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Irish An Post chief faces challenge

Posted by | Jul 31, 2003 | |

With 45pc of letter post revenue open to competition by the end of the year, and An Post’s announcement of its biggest ever loss of 70.5m with a continuation of losses in the current year, incoming An Post chief executive Donal Curtin faces many challenges.

Turnover increased by 9.4pc to 683.7m but operating costs rose by 10.8pc to almost 700m in 2002. The 17.4m operating loss is augmented by a provision of 52.5m for a voluntary severance and early retirement programme.

Even though this restructuring plan is running 18 months behind schedule, the full provision has been made for 2002.

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Deutsche Post sales and earnings damaged by sluggish economy

Posted by | Jul 31, 2003 | |

Mail and package delivery company Deutsche Post announced a sharp rise in second quarter earnings over 2002 when the company was hit with a massive fine from the European Union.

The company announced a net profit of 150 million (US$172 million) between April and June, compared to net loss last year of 257 million for that period. But in 2002, the company was hit with a 906 million fine from the European Union for misusing German government subsidies that skewed comparison.

Deutsche Post said its earnings were actually lower than expected, damaged by the sluggish global economy. It reported that second quarter sales for this year fell to 9.422 billion (US$10.8 billion) from 9.648 billion last year.

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