Some of the US airline industry’s most senior executives believe large-scale domestic consolidation will be allowed in the wake of the September 11 attacks, despite regulators’ traditional opposition to such mergers.
Deals between the top six US carriers were “absolutely” possible within a year, Leo Mullin, chairman and chief executive of Delta Air Lines, told an industry conference on Tuesday.
Read MoreSabena last night became the first European flag carrier to file for bankruptcy, threatening the loss of thousands of jobs and marking the biggest step to date in the long-awaited restructuring of the European airline industry.
British Airways reported a collapse in pre-tax profits from Pounds 200m to Pounds 5m in its second quarter to the end of September and warned of a “significant” operating loss for the full year
Deutsche Post’s parcel delivery service is expected to fall just short of its target for pretax returns (between 2.6 and three per cent) after receiving the same instructions from the EC. The Commission has forced it to create a separate marketing and sales company for business customers and the shortfall in earnings is being attributed to the cost of setting up the new division.
Read MoreThe European Commission has given the French government two months in which to set up an independent regulatory body to ensure that fair trading reigns in the French postal services market. More specifically, the new authority will prevent La Poste from imposing tariffs and conditions on this market to the detriment of private courier companies.
Read MoreDow Jones has reported that “the Czech government is considering offering investors a piece of the national postal service in what could become the country’s first privatization through an initial public offering.”
Read MoreThe Countryside Agency survey of rural services 2000 investigates levels of service provision in rural England. One of the main findings is that rural post offices have continued to close (546 between 1997 and 2000); a rural post office is now more than a 2km walk for 1 in every 15 rural households (6.5%).
Read MorePostEurop Postal Forum & Plenary Assembly 2001 – October 30-31 2001
Read MoreThe Post Office has teamed up with cash machine network LINK to enable people to access their money over the counter at its branches, it announced today.
The #2.4 million deal will enable the Post Office to carry out real-time banking, enabling people with a new basic bank account to withdraw cash or pay in cheques at any Post Office branch.
The move, which is part of the introduction of universal banking services, will also enable people to continue collecting their benefits in cash from the Post Office after it switches to automated credit transfer (ACT) in April 2003.
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