Tag: Europe

U.S. Postal Service, FedEx Express Sign Agreement for Domestic Air Transportation Through 2013

Posted by | Aug 1, 2006 | |

FedEx Express, a subsidiary of FedEx Corp., and the U.S. Postal Service (USPS) today announced a new agreement for domestic air transportation of mail through 2013.
The Postal Service and FedEx Express signed a seven-year contract in 2001 for airport-to-airport delivery of mail within the United States. The contract announced today will replace the final two years of that contract and a new seven-year agreement will commence in October of 2006.
The agreement is expected to generate about USD8 billion in revenue over the life of the seven-year contract.
FedEx Express will continue to fly over 4 million pounds of U.S. mail every business day – the equivalent of 40 wide-body DC10 aircraft using existing aircraft and facilities.

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Explosive rise of TNT gives Royal Mail a run for its business market

Posted by | Aug 1, 2006 | |

TNT, the Dutch-based parcels and mail group, is poised to increase its challenge to Royal Mail with extended mail and parcels services in its GBP100m-a-year UK business, moving closer to the day when it has its own postmen on the streets.
End-to-end business delivery services are being extended to more major cities after successful trials in Glasgow and Manchester. The acquisition of the parcels deliverer JD Williams – with 2,000 couriers – also provides a platform for growth.
Peter Bakker, chief executive at TNT, revealed the plans after announcing an acceleration in second quarter operating profits, raising full-year expectations.
TNT expects to collect and sort 1.2bn items of mail in Britain this year, mainly for banks and utilities. At present, Royal Mail handles final delivery but the two city trials have encouraged TNT to offer more end-to-end services to business clients.

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Holding the folding : UK prefers cash over plastic on holiday

Posted by | Aug 1, 2006 | |

Holidaymakers are set to splash the cash overseas with bumper currency sales of GBP2.3 billion forecast for this year according to a new Post Office® report. In fact, one in every fifteen pounds of the total GBP34 billion spent overseas this year will be bought from the Post Office®.

Launched today, the report shows cash is still the UK’s number one way to pay abroad. Almost half (47 per cent) prefer to use local currency compared to 33.6 per cent who prefer to “put it on the plastic” using their debit or credit card.

Although Traveller’s Cheques are still popular with 19 per cent of holidaymakers, as plastic becomes more popular they are slowly declining, with sales dropping by almost 12 per cent last year. Despite this, euro Travellers’ Cheque sales grew by 7.7 per cent last year .

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SPECIAL REPORT: Post office banking, a company overview

Posted by | Aug 1, 2006 | |

While many banks, including Erste Bank, KBC, ING, Deutsche Bank and Fortis, have been quick to grasp the advantages that relationships with post offices–either through distribution arrangements, joint ventures or acquisitions–can bring, many European banks still underestimate the opportunities that working with post offices present.

According to Carl Holsters, a consultant to Post Group, the Belgian post office, as well as having extensive branch networks, post offices have a strong brand name that banks can capitalise on. Indeed, in some countries in Eastern Europe, this is a distinct advantage as local people often distrust their local banks.

While there are many different models that banks can follow when looking to work with a post office, Holsters believes that Netherlands-based ING Group, which fully owns the banking operation Postbank, which in turn owns 50 percent of the postal services operator Postkantoren, has one of the most successful arrangements with a post office. About 50 percent of the country’s population has a Postbank account. Moreover, Postbank and ING Bank in the Netherlands now generate about 15.5 percent of the group’s total profits.

In some European markets, post office banks are being transformed into fully licensed banks and many of them now have a presence that is powerful enough to threaten existing market leaders.

The report gives extensive details of the relationships between banks and post offices in many countries throughout Europe.

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TNT considers selling off unit Freight Management

Posted by | Aug 1, 2006 | |

TNT, the Dutch post group, said yesterday it might sell its freight management activities, in addition to the contract logistics business that a private equity group is close to buying.

The future of the former Wilson business – a Nordic freight forwarding company bought for Euros 257m (Dollars 328m) two years ago – is dependent on synergies with TNT’s express division.

It has been run as partof TNT’s logistics arm, offering air and sea transport as part of supply chain management.

But the decision to sell logistics – where margins have failed to meet expectations – meant the global freight management unit needed to be combined with express activities, which operate on a regional basis.

Linking them and finding savings might therefore prove difficult, said Peter Bakker, TNT chief executive.

He said TNT would publish the result of analysis to determine the potential for synergies in the current quarter. “If that (process) is not successful, then other scenarios open up,” Mr Bakker said, adding that these included selling the business.

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