ATW Daily News
TNT profit down 6.7% amid 'early signs' of recovery
Tuesday November 3, 2009TNT reported third-quarter net income of €97 million ($142.7 million), down 6.7% from €104 million in the year-ago-period, and noted that it has seen "some early signs" of an improving economy. Its air-intensive Express unit continued to struggle, posting a 36.4% drop in operating profit to €63 million on an 11.4% dip in revenue to €1.47 billion. But CEO Peter Bakker noted that "the rate of decline of Express volumes has modestly improved. In particular, the average weight per consignment developed positively for the first time in a year, while price pressure remained." Air volume measured in kg. lowered 8.4% year-over-year. Overall revenue decreased 7.6% to €2.48 billion.
Other headlines:
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- Gol swings to $504 million 2009 profit with reoriented network
- AA contends with FAA's proposed fines, unhappy unions
- Oman Air finding its niche
- Air China readies $953 million capital increase
- ARC: February sales rise 16.8%
- Air Berlin focusing on new airport, European growth
- IATA halves forecast 2010 loss to $2.8 billion from $5.6 billion
- Lufthansa targeting 'slight' improvement after rough 2009
- Korean regulators tag KE, Asiana for antitrust violations; KE faces ACCC cargo charge
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