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 its decision to retire 15 aircraft and 21 related engines...

Continue

FedEx set to buy TNT Express for $4.8bn

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...

Continue

TNT tweaks its figures

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...

Continue

TNT's express trucking link to Istanbul

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...

Continue