Showing posts with label tnt express. Show all posts
Showing posts with label tnt express. Show all posts

Thursday, June 18, 2015



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 its decision to retire 15 aircraft and 21 related engines and also adjust the retirement schedule of an additional 23 airframes and 57 engines was part of a profit improvement plan.
FedEx chairman, president and chief executive officer Frederick Smith said: “We’re getting rid of very inefficient fuel burning aircraft of high maintenance to a newer fleet, better maintenance, better reliability, better fuel efficiency.
“So we’re balancing our fleet in the US and around the world and that’s part of our profit improvement plan.
“We need to buy [to modernise the fleet] 12, 15 airplanes a year and we continue to do that and you can count on us continuing to that because they are aluminum, they oxidize, they wear out and the new models fortunately burn a lot less fuel and are much more reliable.
“One of the reasons that the fleet can go down is that we don’t need as many spares with the new technology airplanes as we did with the old ones.
FedEx Express president and chief executive David Bronczek said the planes that were to be retired were “basically parked in the desert”.
“They were in engine repair that was going to be too expensive to bring back,” Bronczek said.
The company also said it hoped to complete the acquisition of TNT earlier than expected, although no new time line was provided.
In May, it predicted it would take a year for the purchase to gain regulatory clearance.
Executive vice president, general counsel and secretary Christine Richards said: “We’re doing a tremendous job. We are preparing to submit our initial offering documents as required by Dutch law by the end of this month.
“And we are well underway with the preparation of the necessary filings with competition authorities.
“We have been in consultation with European Competition Commission and continue to believe FedEx and TNT operations are highly complementary in Europe and we do not believe that the transaction faces any competition issues for the commission.
“So we’re in good shape. We’re going to try to get this done as quickly as we can.”
FedEx said it would also continue to be “aggressive in the acquisition space” over the coming years.
“As to any specifics about any specific space,” said executive vice president and chief financial officer Alan Graf. “I will just say that depends on the fit, the culture, the price and all three of those things are vital.”

Source : http://www.aircargonews.net/news/airlines/single-view/news/fedex-updates-on-freighter-retirements-and-tnt-acquisition.html

Tuesday, April 7, 2015



US parcels and logistics giant FedEx has made a $4.8bn  bid to acquire rival operator TNT Express of the Netherlands, with both sides reaching a conditional agreement on the deal.
The agreement recommends an all-cash offer by FedEx for all issued and outstanding ordinary shares, including shares represented by American Depositary Receipts of TNT Express for a cash offer price of €8.00 per share.
The surprise transaction gives TNT Express an implied equity value of approximately €4.4bn ($4.8bn).
Fred Smith, chairman and chief executive of FedEx Corp, said: “We believe that this strategic acquisition will add significant value for FedEx shareowners, team members and customers around the globe.
"This transaction allows us to quickly broaden our portfolio of international transportation solutions to take advantage of market trends – especially the continuing growth of global e-commerce – and positions FedEx for greater long-term profitable growth.”
Tex Gunning, chief executive of TNT Express, said: “This offer comes at a time of important transformations within TNT Express and we were fully geared to executing our stand-alone strategy. But while we did not solicit an acquisition, we truly believe that FedEx’s proposal, both from a financial and a non-financial view, is good news for all stakeholders.
"Our people and customers can profit from the true global reach and expanded propositions, while with this offer our shareholders can already reap benefits today that otherwise would only have been available in the longer run."

Source : http://www.aircargonews.net/news/airlines/express/single-view/news/fedex-and-tnt-express-agree-on-recommended-all-cash-public-offer-for-all-tnt-express-shares.html

Tuesday, February 3, 2015




Express carrier TNT said its fourth quarter results, due to be published in full on February 17, would include non-recurring tax expense items totalling €77m, which include a €67m non-cash valuation allowance on deferred tax assets.
The Netherlands-headquartered company added that changes to its accounting treatment in Brazil would also result in €17m lower reported operating income for the full year 2014 of which €5m would occur in the fourth quarter, but there would be no impact on net income.
During 2014, TNT appointed a new management team and launched its new Outlook strategy with the aim of bringing the company back to sustainable profit and, in September 2014, told the market that it will take three to five years to realise the full benefits of the investment and restructuring programs.
The strategy is in full implementation mode, it added.

Source : http://www.aircargonews.net/news/single-view/news/tnt-tweaks-its-figures.html

Friday, January 30, 2015



TNT has launched a daily scheduled road service to Istanbul, linking the Turkish capital city to Sofia, Bulgaria, and on to all countries in Europe via the express company’s trucking network.
The Amsterdam-based parcels company says that it is currently the only express operator to run a scheduled road connection between all of Europe and Istanbul, “offering an economical and reliable alternative for less urgent shipments”.
Transit times from Istanbul to key European business centres vary from four to seven days, depending on distance to destination.
In Turkey, TNT operates a network comprising 26 hubs and depots, as well as a fleet of 328 vehicles, which connect Istanbul with other large cities, such as Ankara, Izmir, Adana and Bursa.
The new daily road service is an addition to TNT’s existing overnight air express service to Istanbul.

Source : http://www.aircargonews.net/news/single-view/news/tnts-express-trucking-link-to-istanbul.html