Express – Page 39
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FedEx freighter deal 'on the agenda' - Bloomberg
FedEx senior management met at the weekend to discuss a $5bn order for at least 25 Boeing 767 freighters, according to the Bloomberg news agency.Citing “two people familiar with the matter”, Bloomberg said that the US parcel giant’s directors met in the Seattle area over the weekend, where the deal ...
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Swiss join the drone club
Swiss Post and Swiss WorldCargo have launched a project to test the commercial possibilities of logistics drone in partnership with California-based manufacturer, Matternet.They will carry out drone tests in July 2015, but admit that “the widespread use of drones is not expected within the next five years.”Before then, issues including ...
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FedEx-TNT deal edges forward
FedEx’s potential $4.8bn takeover of TNT has edged further forward as the US express giant has filed regulatory paperwork to the European Commission.Over the weekend, the New York Stock Exchange-listed logistics company confirmed it had submitted the required filing to the EC to obtain regulatory clearance in connection with the ...
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FedEx updates on freighter retirements and TNT acquisition
FedEx has provided more details on its decision to retire freighters early, while also providing an update on its proposed takeover of TNT Express and saying that it will continue on the acquisition trail.Speaking shortly after the announcement of its fiscal year fourth quarter results, the US express giant said ...
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Freighter retirements hit FedEx Express Q4
FedEx’s express division recorded a double-digit decline in operating profits in the 2015 fiscal year fourth quarter as a result of the retirement of freighters.The US firm’s express arm saw fourth quarter revenues decline by 4% against last year to $6.7bn, while operating income slid by 40% on last year ...
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UPS Capital buys jewellery logistics specialist
The financial arm of US parcel giant UPS has bought Parcel Pro, a US-based independent logistics provider to the jewellery, wristwatch and collectibles industries.UPS Capital, which provides supply chain financial, insurance and payment services, said that the deal will benefit customers shipping high-value products.Ronald Chang, president of UPS Capital, said: ...
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FedEx defends Open Skies in Gulf subsidy row
Federal Express has warned Washington that its global parcels business is being “put at risk” by the simmering row over alleged state subsidies paid to Middle East Gulf carriers.The ‘Big 3’ US passenger carriers - American Airlines, Delta Air Lines and United Airlines – argue that the Middle East carriers ...
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XPO Logistics gains 67% stake in Norbert Dentressangle
Fast-growing XPO Logistics has completed the purchase of a 67% shareholding in one of Europe’s most well-known logistics firms, Norbert Dentressangle, pushing it into the top-ten list of global logistics players.The deal, first announced in April, sees XPO acquire its majority stake in the company through the purchase of the ...
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FedEx takes axe to 15 freighters
US parcels and logistics giant FedEx has "permanently retired" 15 aircraft and 21 related engines as it continues to “rationalise capacity and modernise its aircraft fleet to more effectively serve FedEx Express customers”.FedEx has taken a non-cash impairment charge of $246m recorded in May 2015 and has also adjusted the ...
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DHL invests $108m in Cincinnati hub upgrade
Express parcel giant DHL is investing $108m to expand its Americas hub facility at Cincinnati/Northern Kentucky airport (CVG) to meet the demands of continued growth in international e-commerce and global trade.The expansion will provide more gates to accommodate additional aircraft, warehouse space and new equipment to provide more capacity for ...
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TNT adds freighter service to Malta
Express operator TNT has launched a B737-400 freighter service to Malta from its European air hub in Liege, Belgium.The flight will run five times a week, with a stopover in Marseilles, France, on both the outbound and inbound journeys. The flight arrives at Malta International Airport in the morning and ...
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AF-KLM-Martinair Cargo targets express market with new hub
AF-KLM-Martinair Cargo has opened its €22m Hub Express at Paris-Charles de Gaulle (CDG) airport that expects to ride the higher-yield e-commerce parcels wave from Asia to consumers worldwide.The eight-line sortation hub on a 7,600 sq m footprint is located just ten minutes from the bellyholds of the carrier’s 450 passenger ...
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UPS opens Schiphol healthcare facility
UPS has opened a healthcare-dedicated air freight forwarding facility at Schiphol Airport on the back of increased demand and changing regulatory requirements.The new 600sq m facility is Good Distribution Practice certified and features 15-25 degree celsius and 2-8 degree celsius temperature zones as well as monitoring and alarm systems to ...
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FedEx and TNT deal on track but clearance could take a year
TNT Express has provided an update on its planned $4.8bn takeover by FedEx, stating that the two companies are making timely progress on preparations for the offer but reiterated that it could take a year to gain regulatory clearance.TNT said that FedEx expects to submit a request for review and ...
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No update on FedEx deal as TNT reports Q1 loss
TNT Express was unable to provide any updates on its potential acquisition by FedEx as it announced a first quarter loss despite an improvement in revenues.The integrator reported a 1.3% year-on-year increase in first quarter revenues to €1.6bn, but operating income for the period slipped to a €11m loss from ...
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FedEx-TNT deal to create third force in express
FedEx’s planned takeover of rival carrier TNT would create a third force in the express market – and unlike UPS’ attempted takeover 2½ years ago, it would succeed, the leaders of the two companies predicted at a press conference this morning.The acquisition would bring TNT’s “exceptional” road platform into the ...
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TNT air fleet purchasers waiting in the wings
FedEx has already identified potential purchasers of TNT Express’ air operations, says FedEx chief executive David Bronczek.He was speaking at a press conference to announce US-based FedEx’s $4.8bn takeover of European rival TNT Express in a deal set to complete in 2016, subject to regulatory approval.However, it is not yet ...
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Brussels freighters buck the trend
Cargo volume at Brussels airport rose significantly in March to 43,785 tonnes, up 8.2 per cent on the same month in 2014, said the airport authority.The European hub also had a strong first quarter, with volumes up 10 per cent to reach 120,117 tonnes.Growth was spread across all segments, although ...
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TNT goes fully automatic in Sydney
Express carrier TNT has opened a new automated hub at Erskine Park in Sydney for domestic and international shipments capable of processing up to 25,000 parcels per hour.It forms part of a wider investment in Australia that will also include hubs in Melbourne and Brisbane, both due for completion later ...
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Medicine men use supply chain to stay healthy, says FedEx
More healthcare customers are using supply chains to stay competitive, according to a Frost & Sullivan report published on behalf of US parcels and logistics giant FedEx.Improving Profitability, Improving Customer Loyalty, Improving Lives found that the supply chain was “a growing and important differentiator for companies in the fast changing ...