Tag: USA

DHL Airways sale may aid purchase of Airborne unit

Posted by | Jul 15, 2003 | |

A U.S. investment group completed the purchase of DHL Airways yesterday, a move company officials hope will ease concerns about the sale of part of Seattle-based Airborne Express to DHL Worldwide.

The group paid $57 million for DHL Airways, which will operate as ASTAR Air Cargo and be based in Miami. The company will be led by DHL Chairman and Chief Executive John Dasburg.

The sale of Airborne’s ground-delivery service to DHL Worldwide raised concern with Airborne rivals Federal Express and United Parcel Service, which complained to the U.S. Department of Transportation that a foreign company controlled DHL Airways.

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Deutsche Post head to be witness in DHL case

Posted by | Jul 15, 2003 | |

Klaus Zumwinkel, head of German postal service operator Deutsche Post, and management board member Uwe Dorken are reported by a company source to have been called to bear witness in a US court next month in the dispute regarding the ownership structure of DHL Airways (DHLA), the US airline. The German company is reported to have raised objection to the summons.

FedEx and UPS are maintaining that the German company’s stake in DHLA violates US law, while Deutsche Post is arguing that its stake represents only a minority interest, and therefore complies with US legislation. However, the German company is still planning to sell its stake in DHLA, after which it will no longer operate an owned airline in the US.

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UPS invested $100 Mln in Hong Kong for Europe – Hong Kong link

Posted by | Jul 15, 2003 | |

United Parcel Service [UPS] has announced plans to invest USD100 million to link its Hong Kong and Cologne hubs, giving European customers improved access to the Asia-Pacific region. The move would add a major spine to UPS’ global network, and boost Hong Kong’s status as a key Asian gateway.

Pending regulatory approval of a second tranche of aviation rights, UPS is preparing to establish a direct air link between Hong Kong and its European hub in Cologne, Germany. UPS has applied for an extra 18 weekly flights in total, six of which would operate between Hong Kong and Cologne. The US company hopes to see the first of these flights take off in October.

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U.S. investment group acquire DHL Airways

Posted by | Jul 14, 2003 | |

Chairman and Chief Executive Officer John Dasburg and a U.S. investor group have completed the acquisition of DHL Airways, the cargo charter airline announced today. The completion of this transaction solidifies the airline’s U.S. ownership, control and management.

The other members of the Dasburg-led investment group are Richard C. Blum, Chairman of San Francisco-based Blum Capital Partners, L.P., a leading private equity firm, and Michael R. Klein, a Washington, D.C. business executive and lawyer who is co-founder and Chairman of the Board of Directors of CoStar Group, Inc. ASTAR Air Cargo will remain a privately held company.

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