Tag: India

Global cargo firms keen to fly into India

Posted by | Feb 24, 2008 | |

The air cargo industry in India is all set to expand its wings. According to ministry of civil aviation, three international companies — FedEx, Malaysia Airlines (MAS) and Australia-based HeavyLift Cargo Airlines — have approached the ministry seeking details on setting up and expanding their operations in India.

The three freighter service providers have sought clarification on the recent Cabinet decision to increase the foreign direct investment (FDI) cap from 49 pct to 74 pct in the air cargo sector.

According to ministry sources, MAS plans to start a dedicated freighter service between Kuala Lumpur and Delhi this year and is also considering using Delhi as its cargo transit point from Amsterdam and Frankfurt. At present, MAS has no dedicated freighter services to India.

A World Air Cargo report says India is the leading international freight market in the sub-continent. Out of the total 1.4 million tonnes of international cargo that flew in and out of the region, India moved the maximum with 8.82 lakh tonnes. Kuljeet Singh, partner, Ernst and Young, feels there is a lot of scope for cargo airlines in India.

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Blue Dart sales up by 21 pct

Posted by | Feb 11, 2008 | |

Blue Dart Express announced its annual result for the year ended December 31, 2007 at its board meeting held in Mumbai. The Company posted Rs 699.3 billion crore profit after tax for the year ended December 31, 2007, up by 39 pct from the corresponding period of the previous year. Income from operations for the year ended December 31, 2007 was RS 8,087.2 billion up by 21.06 pct from the corresponding period of the previous year. Speaking on the occasion Anil Khanna, Managing Director, Blue Dart Express Ltd said, “Our results are a validation of our customer’s faith in us and of our commitment to serve their business. We are proud to be positioned as the only service provider with a distinctive capability to offer the entire gamut of express distribution solutions. We have seen consistent high results in the past and expect the trend to continue this year as well.” “The launch of our new fortified ground express product – Dart Surfaceline last year, is a strong step towards achieving our aim of being the first choice for all our customers; however our focus from our core air express product remains unwavered. We aim to continue setting standards in the Indian express industry and facilitating trade and commerce for a greater India.” 1 USD = 39.6650 INR

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La Poste's plans to enter Indian market blocked

Posted by | Feb 8, 2008 | |

La Poste’s plans to enter the Indian market have run into a roadblock due to opposition from the postal department. GeoPost Group, the express parcel arm of La Poste, plans to tap the Indian market through a joint venture with Continental Air Express.

The Foreign Investment Promotion Board (FIPB) has put the joint venture proposal on hold due to objections from the department of posts. The postal department’s opposition adds yet another twist to the moves to restrict foreign ownership in this segment.

Apart from France, GeoPost has business interests in the express parcel and logistics segment in various countries including the UK, Germany, Russia, Spain, Poland, Greece, Romania and Bulgaria.

In Asia, the La Poste arm has business interests in China and South Korea. GeoPost’s was to take 60 pct stake in the proposed subsidiary while Continental Air Express was to hold the rest.

During recent deliberations at the FIPB, the department of post argued that La Poste is also a member of the Universal Postal Union (UPU) and is required to fulfill universal services obligations (USO) like India Post. Therefore, La Poste cannot poach on the creamy territory of the other, FIPB was informed.

The department has also pointed out that La Poste was a state-owned entity and investment by no such entity has been permitted in India so far. India Post, also a member of UPU, handles low-priced items like post cards and inland letters to fulfill its social obligations. GeoPost, on the other hand, plans to enter courier services like express parcel delivery which command a premium.

The postal department’s argument is that La Poste should also be ready to fulfill social obligations like the USO carried out by India Post. In any case, the department has been threatening to make small letters the monopoly of India Post and impose restrictions on foreign ownership in this sector.

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Indian firm Elbee Express to invest EUR 35m in expansion

Posted by | Feb 7, 2008 | |

Elbee Express plans to invest Rs 2 billion (EUR 34.82 million) for its expansion over the next three years thanks partly to financing from a new investor.

The expansion plan includes an increase of the company’s branches from 132 to 250 within the next 4-5 months, Elbee Express said in a statement. This will enable it to cover 15,200 locations in India. The company will also upgrade its technology.

Nikhil Shah, Executive Director of Elbee Express, said: “We have an aggressive expansion plan to double the number of branches in the next 4-5 months. Through this we are looking to provide a wider distribution reach to our premium customers in Tier II and III cities.”

Elbee Express signed up telecommunications firm Airtel last autumn to provide a new electronic tracking system for some 400 delivery staff under a three-year contract. Airtel will supply hand-held scanners enabling Elbee staff to record POD data and transmit it by the Airtel GPRS network to the company’s central IT server. Customers will then be able to track their shipments on a real-time basis.

Shah told The Hindu newspaper that Elbee plans to focus on the domestic market but was also looking at entering the Chinese market through a cooperation with a Chinese company.

The initial investment of approximately Rs 250 million with an equal amount will be invested by two shareholders, Clearstone Venture Mauritius, an international investing arm of the US venture capital firm Clearstone Venture Partners, and Rakesh Jhunjhunwala, a well-known Indian equity investor. Previously, Kotak Mahindra Investments also took a minority stake in the company. These shareholders jointly hold a majority stake in the company.

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DHL wins Freight Forwarder of the Year at STAT Times 2008

Posted by | Feb 6, 2008 | |

DHL has won the coveted Freight Forwarder of the Year award at the STAT TIMES International Awards for Excellence in Air Cargo, held in Mumbai. This award reinforces DHL Global Forwarding’s leadership position in the industry and further demonstrates its capability in meeting the increasingly complex air freight requirements by combining global presence with local knowledge, as well as its innovation, service excellence and commitment to providing customers with superior end-to-end express and logistics solutions.

As the market leader, DHL Global Forwarding offers competitive pricing for all time and cost requirements. A core element of DHL’s freight management service offering is the ability to move single or complex shipments by air, at any time and to any destination.

Other prestigious accolades that DHL has clinched in this segment include: Best Lead Logistics Provider (4PL), Best 3PL, Best Air Freight Forwarder, Best All Cargo Airline, and Best Air Cargo Carrier – Europe at the renowned, Asian Freight & Supply Chain Awards; CIO Award at the CIO Asia Conference and Awards; and the Platinum Award at the Reader’s Digest Trusted Brand Awards – the first company to have won it for two consecutive years.

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