Business Daily from THE HINDU group of publications
Monday, Jan 28, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Monday, Jan 28, 2008 ePaper | Mobile/PDA Version |
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Logistics
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Air Cargo DHL’s express biz may be sold off
A report in the Financial Times Deutschland is fuelling speculation that the Deutsche Post World Net might sell off DHL’s express business in the US to one of its major rivals, FedEx. However, the spokesmen for both DPWN and FedEx say their companies do not comment on rumours or speculation. But we saw in the past that two months after dismissing reports of a joint venture with Lufthansa Cargo as “market speculation,” DHL announced that it was forming a 50:50 joint venture cargo airline with Lufthansa. Fuelling the rumour mill is DPWN’s €600 million write-off on its DHL America’s business unit last year and Bears Stearns report that suggests that pulling out of the US market and scaling down domestic operations could be the optimal move for DHL. OUR BUREAU More Stories on : Air Cargo
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