Tag: Air Transport

Air France to buy Alitalia for euro 138m

Posted by | Mar 17, 2008 | |

Yesterday, Alitalia’s board unanimously accepted Air France-KLM’s bid to acquire the airline in a deal valued at euro 138 million.

Air France-KLM submitted a proposal to Alitalia on March 14th, aimed at combining Alitalia and the Air France-KLM Group and acquiring control of the Italian airline.

The proposal covers a share exchange offer on Alitalia shares and a cash offer on Alitalia bonds.

Air France-KLM also stated it would underwrite fully a capital increase for a total of euro 1 billion, the proceeds of which would be largely directed towards funding the commercial re-launch of Alitalia.

Air France-KLM’s plan calls for a network organised around the international and intercontinental hub of Rome-Fiumicino, the centre for domestic Italian routes, and around European and selected inter-continental destinations operating from Milan.

This would give Alitalia a combination of hubs from north to southern Europe, organised around a network linking Europe to the rest of the world. The airline would also benefit from the support of global sales forces and investment in products and services aimed at reinforcing and developing the Alitalia brand.

Alitalia has reportedly been losing more than USD 1 million a day. The Air France-KLM deal should enable the airline to return to profitability as early as 2009.

The Air France-KLM offer is conditional on a number of factors, including authorisation from the relevant competition authorities (expected by end-June 2008), and the endorsement of Alitalia’s shareholder, the Italian Ministry of Economy & Finance and its undertaking to tender its shares and bonds, and the formal agreement of Alitalia’s unions.

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Itella and Kauko Group acquisition confirmed

Posted by | Mar 14, 2008 | |

Itella and Kauko Group have confirmed the acquisition of Kauko Group by Itella Corporation on Friday, March 14. Kauko Group is specialised in international freight. The acquisition was approved last week by Finnish Competition Authority.

The acquisition strengthens Itella’s position as one of the leading service logistics operators in Northern Europe. – In future we have even better chances to provide global delivery solutions to our clients, says Katri Sahlman, the Development Director of Itella Logistics.

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Over USD 17 million wasted on FedEx planes

Posted by | Mar 14, 2008 | |

U.S. Postal Service facilities in California and three other Western states incurred USD 17.8 million (U.S.) in unnecessary costs by using FedEx Corp. aircraft to ship mail that could have been moved by truck, rail or passenger plane, auditors found.

The post offices, which account for 14 per cent of all U.S. mail volume, also paid FedEx to sort mail when they could have done so themselves or prepared the mail properly before giving it to FedEx.

Facilities in these states, including Arizona, Nevada and Hawaii, could save the Postal Service about USD 45 million over the next 10 years by minimizing use of FedEx planes and services, said the Feb. 19 report displayed this week on the agency’s website.

The report’s findings come as the Postal Service, a government agency required by law to set rates to cover costs, tries to cope with a possible USD 2 billion loss this year after a USD 5.1 billion deficit last year.

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Hui takes over DHL’s South China operation

Posted by | Mar 12, 2008 | |

DHL has appointed Edward Hui as Country Manager Hong Kong, Macau and South China for DHL Global Forwarding.

In the new role, Hui is responsible for developing and executing the company’s corporate strategies and operations in Hong Kong, Macau and South China in collaboration with the global network.

He will also play a key role in exploring market opportunities and enhancing customer satisfaction for the complete range of freight logistics services that DHL offers to its customers.

“Edward has a proven track record, both in DHL and in the logistics industry, as well as excellent knowledge of Hong Kong and mainland China markets,” said Victor Mok, senior vice-president, Greater China, DHL Global Forwarding.

“I am confident that under Edward’s leadership, DHL will continue to attain and maintain the number one position in the region.”

Hui joined DHL Global Forwarding in 2004 as head of airfreight operations for Exel, and subsequently led the successful integration of the equally-sized freight operations of heritage Exel and DHL Danzas Air and Ocean.

Hui has a distinguished career in the transportation industry. Prior to joining DHL, he was with Cathay Pacific Airways for over 13 years where he began his career as a management trainee. He held management positions in various departments of the carrier including Corporate Planning and International Affairs in Hong Kong, and overseas stations in Malaysia and Indonesia.

In the latter part of his career with Cathay Pacific, Hui concentrated in leading strategic projects in China, including joint venture and alliance development.

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ASTAR pilots ratify contract

Posted by | Mar 7, 2008 | |

ASTAR Air Cargo pilots have ratified a labor contract with the company, concluding long and sometimes contentious negotiations.

About 88 percent of eligible ASTAR pilots voted on the proposal, with 93 percent of them in favor, according to ASTAR Air Cargo Capt. Patrick Walsh, chairman of the ASTAR pilots union master executive council.

Under the terms of the deal, ASTAR flight crewmembers will receive retroactive pay and more than 20 percent in pay increases during the course of the four-year agreement, according to a news release from the crewmembers’ union, the Air Line Pilots Association International (ALPA).

In addition, the pilots get furlough protection and a commitment from the company to secure new aircraft, the release said.

One aspect of the job security convenant in the contract prevents the company from laying off any pilot for the first two years of the agreement, which will go into effect Saturday.

The two sides began negotiations in January 2005, and since April 2006 the talks were held with the assistance of the National Mediation Board.

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