Tag: USA

FedEx expects to earnings growth

Posted by | Oct 29, 2001 | |

MEMPHIS, Tenn. (AP) _ FedEx Corp. expects its second-quarter earnings to beat Wall Street expectations even without government assistance being offered to airlines to offset the Sept. 11 terrorist attacks.

Alan B. Graf Jr., executive vice president and chief financial officer, said Monday that solid growth of FedEx Ground, the company’s home-delivery business, contributed to the company’s profitability this quarter.

He also credited the company’s broad portfolio of services for helping offset the impact of the terrorist attacks, which hit the company’s air cargo Express service the hardest.

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US finance group possible bidder for Railtrack

Posted by | Oct 28, 2001 | |

Babcock & Brown, the US finance group, has emerged as a possible bidder for all or part of Railtrack, the privatised UK rail network operator. The group has been considering financing packages for Railtrack for months.

The proposals, which considered ways that areas of Railtrack could be financed more cost-effectively, had not reached formal discussions when Railtrack was put into administration three weeks ago.

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Qantas to buy Boeing 737s ordered by American

Posted by | Oct 28, 2001 | |

Qantas, the Australian airline, is to form a strategic alliance with American Airlines and is to buy up to 75 Boeing 737 aircraft ordered by the US carrier to help it meet demand in the domestic market.

The decision, announced on Sunday, is a blow to Airbus which had hoped Qantas, one of only a handful of airlines around the world that is expanding, would choose its A320 rather than the next-generation Boeing 737-800.

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United Airlines chairman resigns

Posted by | Oct 28, 2001 | |

Jim Goodwin, chairman and chief executive of United Airlines, resigned on Sunday, becoming the first senior executive casualty of the crisis in the US airline industry.

Two of the largest unions at UAL, which is 55 per cent owned by employee shareholders, called for Mr Goodwin’s resignation last week, after he sent a letter to employees warning that the airline could “perish” next year.

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