Argentina’s postal service, one of the emblematic big privatizations of the 1990s, convinced an appeals court to give it more time to reach agreement with its creditors to restructure $300 million in debts.
Meanwhile, the Argentine government – which is the firm’s largest single creditor – made it plain that it sees a new tender for the concession as the definitive solution.
Read MoreRoyal Mail has introduced a simplified range of international express and signature services offering a combination of more destinations and extra speed for customers posting important or urgent items overseas.
Read MoreThere are fewer letters and parcels in the mail, but Australia Post still managed to lift its net profit 11.4% in 2002-03.
Despite total mail volume waning almost 20 million items to 5.26 billion, the profit came in at $330.8 million.
The Federal Government-owned Australia Post also provided $304.3 million in dividends to the Government, up from $291.8 million.
Read MoreLetter volumes fell slightly last year – the result of cost-focused businesses amalgamating their bills into one statement, less junk mail with the slowdown in advertising and increased internet transactions – but Australia Post still lifted its net profit 11.4% to $330.8 million.
The profit increase was driven in part by Australia Post lifting the price of a basic postage stamp in January from 45¢ to 50¢.
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