While the air-express industry waits to see how DHL’s huge expansion effort affects the U.S. market for expedited cargo, the impact on DHL is becoming more evident. DHL parent Deutsche Post World Net announced larger-than-expected losses in the Americas, where the company is mounting a $1.2 billion challenge to FedEx and UPS. Deutsche Post followed the disappointing financial results by announcing a management shakeup.
Read MoreTransportes Azkar SA said net profit fell to 10.98 mln eur in the nine months to Sept 30 from 13.17 mln a year earlier, mainly due to lower one-time gains.
In a statement, Azkar said sales rose 14.21 pct to 231.12 mln eur. EBITDA climbed 13.16 pct to 31.39 mln eur, while EBIT rose 14.48 pct to 15.02 mln.
Investments totalled 24.83 mln eur in the nine month period, while net debt stood at 58.05 mln, with gearing at 38.63 pct.
DHL Express Singapore Pte Ltd has appointed Ambit Corporate Finance Pvt Ltd manager to make an open offer to the equity shareholders of Blue Dart Express Ltd to acquire 20 per cent of its equity shares at Rs 350 per share. The acquirer, along with Deutsche Post AG, would be making the open offer for 47,45,587 equity shares of Blue Dart, in an all cash deal aggregating Rs 166.09 crore.
Read MoreFedEx Corp. is challenging an order by the US Department of Transportation to repay USD29 million of the federal money it received after the 2001 terrorist attacks, a spokesman said Friday. The Air Transportation Safety and System Stabilization Act provided financial relief to US air carriers after the Sept. 11, 2001, attacks. FedEx was paid USD101 million under the act in 2002. But a review by the Department of Transportation determined that the company was only entitled to USD72 million and it wants FedEx to repay the rest. “We will vigorously challenge this,” FedEx spokesman Jess Bunn said. “We’ve already started looking at various ways to appeal this decision.”
Read MoreAmtrak Express Parcels has brought operations for the Newcastle are in-house- but is seeking to franchise in other areas where it runs its own operation. The firm has earmarked Brighton, Canterbury, Tunbridge Wells, Colchester/Chelmsford, Cambridge and Walsall/Dudley as areas for franchising.
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