Tag: South Africa

Blue Dart to sell stake in aviation arm to enable takeover by DHL

Posted by | Nov 22, 2004 | |

Courier company Blue Dart Express has decided to divest its stake in its wholly-owned subsidiary Blue Dart Aviation Ltd in order to facilitate the acquistion of the parent company by global logistics major DHL Express. The company said in a notice issued to BSE: “The board of Blue Dart Express Ltd has approved the divestment/sale of equity shares of Blue Dart Aviation Ltd, being its wholly-owned subsidiary company up to 100percent of the equity share capital.” Under the foreign direct investment (FDI) guidelines for the aviation sector, the foreign holding in airlines has been capped at 49percent. DHL, which has inked a deal to buy a 68.2percent stake in the company for Rs 566 crore and announced an open offer for another 20percent would have exceeded this cap by virtue of its shareholding in the parent company.

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FedEx Express names new regional chief for Middle East/Africa

Posted by | Sep 8, 2004 | |

FedEx Express, the world’s largest express transportation company, has announced the appointment of Brian Britnor as Regional Manager Sales for Global Service Participants (GSP) & Airline Sales, Middle East, Indian Subcontinent and Africa.

In his new position, Britnor will focus on maintaining FedEx’s world-class service standards. This appointment further strengthens FedEx’s position in the region and confirms the company’s continued commitment to its customers.

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South Africa Post Office makes trading profit, but net loss

Posted by | Aug 30, 2004 | |

Defying all predictions the SA Post Office (SAPO) made a trading profit of R27 million this year, the postal services group said today.

This was remarkable not only because it was a turnaround from losses of hundreds of millions of rands in the last few years, but also because postal services internationally were in decline, Maanda Manyatshe, the chief executive, told reporters in Johannesburg.

However, although trading operations turned a profit, overall the group incurred a net loss of R74.7 million. This was due to the cost of post-retirement medical benefits, Manyatshe said. Manyatshe attributed the trading profit to the diversification of the services offered and a stricter control of operating expenses.

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South Africa Post Office delivers on turnaround

Posted by | Jun 7, 2004 | |

The South African Post Office has exceeded its target of reaching break-even at operating level in the year to end-March and will be well on the way to financial independence if it resolves its huge postretirement medical aid liability this year.

The company has long been a drain on the fiscus, with a controversial failed management contract with New Zealand Post, widespread postal crime and poor delivery standards forcing government to reinstate a R1,5bn three-year subsidy in 2001-02.

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South African Postal Business Unit favours 3% tariff hike

Posted by | Feb 4, 2004 | |

The Postal Business Unit, a division of the SA Postal Services (Sapo), has said it was in favour of the 3 percent general tariff increase for this year despite enormous operational challenges it faced in terms of its licence conditions.

Sapo’s licence conditions prescribe that it provides millions of South Africans, irrespective of their physical location, with a basic postal service that is reliable, affordable and equitable.

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