Dutch mail and express company TNT reported a 60 per cent fall in profit for the fourth quarter this week citing restructuring charges and worsening business conditions, especially in its express delivery arm. Net profit at Amsterdam-based TNT was €207 million, down from €250 million in the same period a year earlier. Sales fell 2.4 per cent to €2.93 billion. The company took €146 million in charges during the quarter to restructure both its mail and express divisions, … [Read more...] about TNT reports 60% fall in 4Q profits
recession
Kintetsu profit declines
Kintetsu World Express, Japan's second-largest international forwarder, said it suffered a drop in profit on a consolidated basis between April and December from a year earlier despite revenue growth. Group operating revenue during the first three quarters of fiscal 2008 totaled Â¥221.634 billion yen (US$2.42 billion), up 4 per cent on-year. But group operating, ordinary and net profits all fell because of repeated hikes in fuel surcharges and a sharp decline in the volume of air cargo volumes … [Read more...] about Kintetsu profit declines
2009 annus horribilis for European airports
This year will be an "annus horribilis" for European airports after passenger traffic dropped 7.7 per cent year-on-year in December and freight plunged more than 21 per cent, the head of airports body ACI Europe said. "Talking to our members I get the feeling that January is going to be worse than December, and even November, which was down 8.2 percent," ACI Europe Director General Olivier Jankovec told Reuters. "We have members with even a double-digit decrease," Jankovec said, adding that … [Read more...] about 2009 annus horribilis for European airports
JAL posts US$428 million 3Q loss
Japan Airlines parent JAL Group reported a net loss of Â¥38.5 billion (US$428 million) for its fiscal third quarter ended 31 December, reversing a Â¥13.1 billion net profit in the same period a year earlier, citing declining demand, rising yen and volitile fuel prices. "The global economic slowdown and the accelerating appreciation of the yen led to a substantial year-on-year decrease in demand on Europe and US routes" in the first nine months of its fiscal year, JAL said in a statement. … [Read more...] about JAL posts US$428 million 3Q loss
BAWC volumes down 8.4% in Q3
The sharp downturn in the air cargo market from October last year has resulted in British Airways World Cargo' (BAWC) volumes falling 8.4 per cent over the third quarter of 2008, compared to a year earlier. A "marked and growing deterioration in market conditions" began during the third quarter of the financial year ending 31 December 2008, said British Airway's cargo division. ¡°The turndown in market conditions since November has been unprecedented and we have yet to see it level out," said … [Read more...] about BAWC volumes down 8.4% in Q3
US air cargo plummets 17 per cent
A collapse in trans-Pacific trade pushed cargo traffic for US airlines down 17 per cent in December representing the worst year for US air cargo carriers since 2001. Overall traffic for the airlines declined 3.2 per cent in 2008, according to the Air Transport Association (ATA), including a 5.5 per cent drop in domestic business and a 1.2 per cent in internationally. The drop last year reached its height in December with a 29.5 per cent decline in December cargo volumes, year-on-year. Despite a … [Read more...] about US air cargo plummets 17 per cent
