Express

TNT Q1 profit rockets up 90%

by

TNT has posted a net profit in the first quarter nearly double that of the same period a year earlier on strong gains in the express sector, but said it remains cautious about what it sees as a fragileeconomic recovery. TNT’s net profit jumped to US$190 million from $101 million, with the integrator realising a 54 per cent rise in operating profit to $334 million. Revenue increased 12 per cent to $3.65 billion — including $2.1 billion from the express division alone, … [Read more...] about TNT Q1 profit rockets up 90%

UPS posts strong Q1 results

by

UPS said its net profit soared 33 per cent in the first quarter on broad earnings gains across all its business segments giving further optimism that a full-blown economic recovery is in progress. “With global economies showing signs of recovery and UPS’ strong start to 2010, we are optimistic about this year and the future,” UPS chairman and CEO Scott Davis said. Overall, UPS showed a US$533 million net profit in the quarter, up from $401 million in the first three … [Read more...] about UPS posts strong Q1 results

Demand growing faster than expected

by

Demand for both international air travel and air freight accelerated in March with the rebound on the back of economic recovery exceeding expectations, the International Air Transport Association (IATA) said this week. IATA said the air traffic recovery would dip in April because of the disruption from the Icelandic volcanic eruption, which hit European carriers in particular, and added that passenger and freight markets are still one per cent below early 2008 highs and the industry has lost two … [Read more...] about Demand growing faster than expected

EU warns against “lavishing” emergency aid

by

The European Union has warned governments against lavishing emergency aid on airlines to make up for losses from disruptions in operations caused by the eruption of a volcano in Iceland. But it proposed other measures to help them recover from the weeklong shutdown of air travel. The European Commission’s own estimate of losses ranged from €1.5 billion to €2.5 billion, taking into account losses by airlines, airports and tour operators, said Siim Kallas, the EU transport … [Read more...] about EU warns against “lavishing” emergency aid

EU warns against "lavishing" emergency aid

by

The European Union has warned governments against lavishing emergency aid on airlines to make up for losses from disruptions in operations caused by the eruption of a volcano in Iceland. But it proposed other measures to help them recover from the weeklong shutdown of air travel. The European Commission’s own estimate of losses ranged from €1.5 billion to €2.5 billion, taking into account losses by airlines, airports and tour operators, said Siim Kallas, the EU transport … [Read more...] about EU warns against "lavishing" emergency aid

TNT and Con-way expand US-Europe offering

by

TNT and Con-way Freight have announced a new export service as an expansion of their existing relationship. The intercontinental, accelerated service will feature a day-definite, road/air/road US to Europe solution for heavier freight shipments. The two companies launched the intercontinental import service as part of their commercial alliance back inApril 2009. Con-way Freight will manage the pickup of US shipments, followed by consolidation and loading to direct air cargo service from New … [Read more...] about TNT and Con-way expand US-Europe offering