Tag: FedEx Corp

Airborne Inc criticizes airline ownership proposal

Posted by | Apr 8, 2003 | |

Airborne Inc. lashed out at rival package carriers United Parcel Service and FedEx Corp. over a proposal being considered by the U.S. Senate to toughen ownership rules for air carriers. “It is no surprise that they would attempt to protect their duopoly in any way they can,” Airborne said in a statement Monday. “Their attempts to delay our transaction will limit opportunities for American workers and deny choice to American consumers.” Representatives of UPS and FedEx denied that they are trying to quash competition.

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UPS and Fedex lock horns with DHL

Posted by | Apr 8, 2003 | |

US parcel giants UPS and Federal Express have scored the first hit in a bitter dogfight with German-owned DHL over its USD1bn bid for domestic package delivery operator Airborne Express. Intense lobbying by UPS and FedEx has added a single but significant sentence to Senate legislation intended to approve USD 80bn of funding for the war with Iraq. The amendment means that any company receiving more than 50% of its operating revenue from a foreign entity or ‘not effectively controlled by citizens of the United States’ cannot carry military cargo.

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Fedex, UPS use war bill to fight DHL expansion in US

Posted by | Apr 7, 2003 | |

United Parcel Service Inc. and FedEx Corp. have managed to disrupt plans by rival Deutsche Post AG, which owns DHL Worldwide Express, to expand in the U.S. by using a must-pass war-funding bill. Last week, the Senate voted to include an amendment intended to force regulators to be stricter in enforcing U.S.-ownership regulations for air-cargo carriers against the German company.

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Analysts say Airborne deal faces tough battle

Posted by | Apr 7, 2003 | |

Industry analysts say DHL Worldwide’s proposed acquisition of Airborne Inc. will receive intense scrutiny from the U.S. Department of Transportation. Greg Burns of J.P. Morgan Chase believes the deal will be approved because of its impact on competition despite fierce opposition from FedEx Corp. and United Parcel Service. Other analysts were more skeptical. Scott Flower of Salomon Smith Barney gave the deal a 60 percent chance of approval, but noted that it will also be subject to political pressures.

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Fedex and UPS expected to fight DHL-Airborne merger

Posted by | Mar 24, 2003 | |

FedEx Corp. and United Parcel Services are not expected to stand silently by while DHL Worldwide Express consummates its $1.05 billion takeover of Airborne.
FedEx and UPS have already pushed the Department of Transportation to look at the ownership of DHL. The companies claim that the DHL is really just an arm of the German government. “Both UPS and FedEx are going to object to DHL’s acquisition of Airborne’s ground base assets under the cover of regulatory and anticompetitive grounds,” said analyst Peter Jacobs, of Ragen MacKenzie, a division of Wells Fargo Investments,

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