Tag: recession


  • TNT reports 58% slide in Q1 net profit

    Netherlands-based TNT has reported a 58 per cent fall in first-quarter net profit on the back of shrinking volumes at its express and mail units, saying the situation was expected to continue through the rest of 2009.......

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  • China’s manufacturing gains strength

    The China Purchasing Managers’ Index (PMI), seen as a bellwether of manufacturing activity in the country, rose to 53.5 in April from 52.4 in March, according to Reuters. This is the second straight month the index has......

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  • China's manufacturing gains strength

    The China Purchasing Managers’ Index (PMI), seen as a bellwether of manufacturing activity in the country, rose to 53.5 in April from 52.4 in March, according to Reuters. This is the second straight month the index has......

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  • Air India restructures and replaces MD as losses soar

    The Indian government has suggested sharp cutbacks in routes, changes in aircraft deployment and flight timings to reduce losses in National Aviation Company of India Ltd (Nacil) — the state-owned company that runs Air India. Apart from......

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  • Asian air cargo declines 22% in March

    Air cargo demand remained depressed in March, with the latest figures released by the Association of Asia Pacific Airlines (AAPA) showing a 21.9 per cent decline in international freight tonne kilometres (FTKs) compared with March of last......

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  • UPS CEO warns against protectionism

    Fresh from announcing a 56 per cent plummet in first quarter earnings, UPS CEO Scott Davis warned that protectionist moves would seroiusly danger the fragile global economy. “UPS will emerge from these difficult times as a more......

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  • Lufthansa Cargo likely to posts '09 loss: CEO

    Lufthansa’s chief executive said he now foresees a full-year operating loss for the company’s cargo business as the global economic crisis continues to depress the air freight market. In 2008 the cargo division posted a €164 million......

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  • Lufthansa Cargo likely to posts ’09 loss: CEO

    Lufthansa’s chief executive said he now foresees a full-year operating loss for the company’s cargo business as the global economic crisis continues to depress the air freight market. In 2008 the cargo division posted a €164 million......

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  • UPS sees 1Q profit plummet 56%

    United Parcel Service has reported a 56 per cent drop in first-quarter earnings to US$718 million from $1.49 billion in the year-ago quarter and warned the second quarter will also be difficult. Revenue was off 13.7 per......

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  • Qantas makes deep cuts and defers A380s

    Plummeting profits and declining freight and passenger traffic will see Qantas Airways slash as many as 1750 jobs, sell aircraft and defer its order for four Airbus A380 superjumbos. Qantas announced plans earlier this week to cut......

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