Author: Archive

Pakistan Int'l Airlines launches courier service

Posted by | Jul 23, 2003 | |

Pakistan International Airlines [PIA] Tuesday entered another revenue generating sector with the formal launch of its own courier service SPEEDEX.

PIA offers yet another value added service for one window operation to its customer, targeting all segments of life by going into a natural expansion from the first air express in the industry to premium door to door courier service, said Ahmed Saeed, the airline chairman, while performing the launching of the new service at a ceremony at the City Reservation office.

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European Commission approves De Post-La Poste recapitalisation

Posted by | Jul 23, 2003 | |

The European Commission has given the go-ahead to the 297.4 million euro recapitalisation of De Post-La Poste. The transaction is key to the healthy future of the company. The company’s management welcomed the European Commission’s decision and thanked all those who have helped bring the case to a favourable conclusion.

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Canada Post and union agree on settlement

Posted by | Jul 23, 2003 | |

Canada Post and its postal workers union reached a deal early Wednesday on a settlement framework for a contract, avoiding a national strike or lockout of thousands of corporation employees.

Canada Post and the Canadian Union of Postal Workers have agreed to finalize a tentative agreement in the next 72 hours.

The agreement on the framework came about 3 1/2 hours after the third deadline extension had elapsed.

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UPS 2Q – comments

Posted by | Jul 22, 2003 | |

Please find our initial thoughts on UPS quarter just reported as well as a grid comparing volume and yield growth by product vs. last quarter and our expectations for the quarter.

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Astar asks DOT to drop DHL case

Posted by | Jul 22, 2003 | |

Astar Air Cargo, formerly DHL Airways, asked the Department of Transportation on Tuesday to dismiss the latter’s investigation into the all-cargo airline’s ownership. Astar said the airline’s July 14 sale rendered the inquiry moot.

“With completely new owners, who are indisputably U.S. citizens eager to compete with FedEx and UPS, the citizenship of Astar must be treated in the normal manner, not shoe-horned into this docket where it does not fit and does not belong. The issue in this docket, the citizenship of Airways in light of the May 2001 reorganization, is now moot and must be dismissed,” the filing stated.

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UPS reports 13% earnings increase on 7% revenue gain

Posted by | Jul 22, 2003 | |

UPS today reported strong financial performance for the second quarter, with all segments showing growth despite a lackluster economy in the United States and much of the world.

Highlights for the quarter included:

Earnings per diluted share increased 13% to $0.61 from $0.54 last year.

U.S. package volume increased 1.2%, paced by a 9.1% increase in Next Day Air® volume.

International profitability increased more than 150%.

Non-package profits climbed 34%.

“We’re quite pleased with our results this quarter as all units met our expectations,” said Scott Davis, UPS’s chief financial officer. “We’re also seeing each business segment contribute to the success of the other units as we deploy integrated solutions across the supply chain.”

For the quarter ended June 30, 2003, revenue totaled $8.23 billion, up 7.1%
from the $7.68 billion reported during the same period in 2002. Consolidated
operating profit increased 5.1% to $1.08 billion. Net income totaled $692 million, an increase of 13.3% over the prior year’s $611 million. The international segment led the company’s results, with revenue increasing
19.8% to $1.37 billion and operating profit surging 154.8% to $158 million. Operating margin for the segment was 11.5%, making this the third consecutive quarter with international operating margins over 10%. Worldwide export volume climbed 6.2%, led by a 15% gain in Asia.

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DHL Danzas signs three-year agreement to use Hong Kong on-airport facility as logistics base

Posted by | Jul 22, 2003 | |

DHL Danzas Air & Ocean yesterday became the HK$530 million Tradeport facility’s second partner after the global forwarder agreed to an initial three-year deal to use the on-airport facility as a base for some of its logistics-related operations.

The deal’s value was not disclosed but the company, which in April was merged with Brussels-based DHL Worldwide Express, said it expected to move up to 30 per cent of its business through the facility.

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DHL launches Indian trade confidence index

Posted by | Jul 22, 2003 | |

The WTO deadline is expected to have a major impact on exports from India, so DHL Worldwide Express has launched the DHL Trade Confidence Index, which will measure the attitudinal outlook of exports including the expectations and drivers for export expectations.

Reported to be the first of its kind for international trade in India, it is a measure of the perceived momentum of exports and will serve as a benchmark for future expectations, according to Mr Ramesh Natarajan, Head-Marketing, DHL Worldwide Express (I) Ltd.

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