Wednesday, May 22, 2024

UPS right to defence infringed in failed TNT deal

The European Commission’s decision to prohibit UPS’s acquisition of TNT Express must be annulled due to procedural irregularity, the Court of Justice of the European Union has ruled. On 30 January 2013, the European Commission prohibited the acquisition of TNT Express by UPS, saying it would lead to a significant impediment to effective competition in […]

Liege Airport boosted by FedEx commitment

Recent years have been nerve-wracking for Belgium’s Liège Airport, Neil Madden writes. One of Europe’s most cargo-friendly airports was heavily dependent on Dutch express operator TNT, at one point accounting for 2,000 of 3,500 jobs. But the takeover of TNT Express by Fedex and the acquisition of TNT Airways by ASL Aviation raised concerns over […]

FedEx Express opens new ground operations centre in Barcelona

FedEx Express has opened a new ground operations centre in Barcelona in the one of the city’s main industrial areas – Zona Franca. The facility will process both domestic and international shipments, serving as a gateway between the Barcelona region and Europe. FedEx Express says it is creating Europe’s leading logistics network through strategic investments, and […]

FedEx Q1 figures hit by June cyber attack and hurricane

FedEx reported yesterday that the 27 June NotPetya virus cyber attack on TNT Express wiped $300 million from its quarterly profit, while Hurricane Harvey also impacted operations. FedEx said the worldwide operations of TNT Express were “significantly affected” during Q1 cyber attack, but most TNT services resumed during the quarter and all TNT Express critical […]

TNT customers continue to feel the affect of cyber-attack

FedEx says TNT Express customers are still “experiencing widespread service and invoicing delays” three weeks after the cyber-attack on 28 June, which had significant impact on TNT’s worldwide information systems. FedEx says the attack has affected its financial performance, but it is “still evaluating the financial impact of the attack”, but it is likely it will be material. […]

TNT services back to normal following IT virus but delays continue

TNT says most services are back to normal and it is working hard to clear any backlogs following its IT systems being hit by a virus. Operations and communications were disrupted when a ransomware attack swept the globe, affecting numerous companies, though TNT says no data breach occurred as far as it is aware and […]

TNT Express operations “significantly” disrupted due to cyber attack

TNT Express says its worldwide operations have been “significantly” affected due to the IT system virus that is sweeping the globe. The ransomware attack on Tuesday hit computers at Russia’s biggest oil company, Kiev International Airport, global shipping firm A.P. Moller-Maerskand the world’s biggest advertising agency WPP. The FedEx subsidiary’s operations and communications systems have […]

Strong fourth quarter completes record year for FedEx

FedEx Corp returned to profit in the fourth quarter following the integration of TNT Express, and net income hit $3 billion for the 2017 fiscal year. Fourth quarter net income was $1.02 billion compared to a loss of $70 million the previous year with improved results coming from higher base rates, increased package volumes and […]

Revenue and net income grows at FedEx

FedEx revenue grew to $15 billion in the third quarter of the 2017 fiscal year, with growth in all business segments while net income was up to $562 million. Revenue was up from $12.7 billion and net income was up from $507 million, despite the operating margin falling to 6.8 per cent to $1 billion […]

Hippos, calves and jet engines help Budapest grow 23% annually

Budapest Airport becomes TIACA trustee member

Budapest Airport’s cargo volumes have grown almost 23 per cent annually, transporting goods as varied as aircraft jet engines, a baby hippopotamus and several hundred calves. The airport serving Hungary’s capital handled over 112,000 tonnes of cargo in 2016, and on certain days would have three Boeing 747 Freighters parked on the apron. It says […]

FedEx gets revenue and net profit boost in first quarter

FedEx has seen total revenue increase by $65 million to $14.66 billion, while net profit rose 3.3 per cent to $715 million in the first quarter of the fiscal 2017 year, ending 31 August. TNT Express didn’t add any profitability in the quarter, but it did contribute an additional $1.8 billion in revenue. FedEx Express […]

PEMCO redelivers 100th 737-300 conversion

Pemco World Air Services (PEMCO) has redelivered its 100th Boeing 737-300 converted aircraft, which was modified for SF Airlines. The 100th conversion was also the 16th -300/-400 aircraft for SF Airlines, with three more planned in 2016. PEMCO started converting 737-300s in 1991 for L’Aeropostale, and has provided aircraft for customers all over the world […]

FedEx celebrates “historic year of significant accomplishments”

FedEx has reduced its losses in the fourth quarter of 2016 to $70 million as it celebrates “a historic year of significant accomplishments”. The company reduced its losses from $895 million in the same period of 2015, while revenue increased from $12.1 billion to $13 billion. FedEx says results were helped by programme initiatives at […]

FedEx completes takeover of TNT Express

FedEx has completed its 4.4 billion euro ($4.9 billion) takeover of TNT Express, with integration of the companies to start immediately. The companies say customers will interact with each company as they always have and once the integration is complete, FedEx says they will benefit from an expanded global offering. FedEx chairman and chief executive […]

ASL Aviation Group completes TNT Airlines acquisition

ASL Aviation Group has acquired the airline operations of TNT Express – comprising of TNT Airways (Belgium) and Pan Air Líneas Aéreas (Spain). The two airlines are to be renamed ASL Airlines Belgium and ASL Airlines Spain respectively. ASL’s offer to acquire the two TNT Express airlines was announced on 5 February, 2016 and was […]

FedEx to complete TNT takeover on 25 May

FedEx Express has declared its offer for TNT Express “unconditional” and says the settlement date for the 4.4 billion euro ($4.8 billion) takeover will be 25 May this year. The US integrator says 88.4 per cent of all shares are committed for the deal at an offer piece of eight euros a share. The offer […]

TNT Express to sell its overnight delivery arm – TNT Innight

TNT Express is to sell its overnight distribution subsidiary TNT Innight to the private equity firm Special Situations Venture Partners III (SSVP). The company says the sale is motivated by TNT’s strategy to concentrate resources on strengthening its core express delivery activities. TNT Innight provides night-time distribution services in Europe to companies in sectors such as […]

China approves FedEx’s takeover of TNT

FedEx’s 4.4 billion euro ($5 billion) takeover of TNT Express has the final hurdle, having obtained unconditional approval from the Chinese government’s ministry of commerce. Chinese government approval was the final regulatory requirement to overcome, after the European Union and Brazil’s Conselho Administrativo de Defesa Economica both approved the deal earlier this year, despite an appeal […]

TNT Express awards Virgin Australia freight contract

TNT Express has awarded Virgin Australia a five-year, $575 million contract to transport cargo across Australia, according to The Australian newspaper. The publication reports that the contract will begin in July and it will see Virgin using bellyhold capacity as well as dedicated freighter aircraft. Virgin Australia is reportedly planning to wet-lease two BAE146 and one […]

FedEx takeover of TNT approval appealed

The approval of FedEx’s takeover of TNT Express by the Brazilian Conselho Administrativo de Defesa Economica (CADE) has been appealed by a third party. CADE had unconditionally approved the takeover on 2 February as part of the process of gaining approval from relevant antitrust authorities. On 5 February, it was announced that TNT Express was […]

TNT sells TNT Airways and Pan Air to ASL

TNT Express has agreed to sell airline operations, TNT Airways and Pan Air Lineas Aereas to ASL Aviation Group in the first half of 2016, as a condition of being taken over by FedEx. ASL will take over TNT Airways and Pan Air operations from the moment the sale is completed, and is expected to […]

Brazil approves FedEx takeover of TNT Express

Brazil’s Conselho Administrativo de Defesa Econômica, the country’s competition authority, has unconditionally approved the FedEx acquisition of TNT Express. FedEx and TNT made a joint statement to reveal the news and it comes after the European Commission gave the green light for the 4.4 billion euro ($4.8 billion) takeover of the Dutch courier delivery firm […]

European Commission approves FedEx takeover of TNT

The European Commission has unconditionally approved the FedEx intended 4.4 billion euro ($4.8 billion) takeover of Dutch courier delivery firm TNT Express. In a statement released by both, the integrators says they have obtained the backing of the Commission as it concluded that the deal “does not raise any competition concerns”. FedEx Express regional president […]

FedEx takeover of TNT clears European hurdle

FEDEX is set to be given the go ahead by the European Commission for its 4.4 billion euro ($4.8 billion) takeover of Dutch courier delivery firm TNT Express. The deadline for the commission to issue any antitrust objections to the merger was Friday, 23 October, but both companies say they have not received any from […]