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ACW - Air Cargo Week

11/09/2011

TNT Express encounters headwinds in ‘uncertain economic environment’

Dutch giant TNT Express has revealed steady third-quarter revenue but a significant year-on-year decline in operating income.

Profit attributable to shareholders fell drastically as the express services provider met with what it called "muted growth" in its Europe, Middle East and Africa division and larger losses in the Americas (specifically, Brazil) and in the Asia Pacific market.

CEO Marie-Christine Lombard noted: "Further operational improvements are being identified to secure profitability in an uncertain economic environment, such as reducing network costs and increasing the flexibility of our Asia - Europe capacity."

For the year to date, the company said that revenue improvement has been no better than "modest", while income has been hit hard by various one-off charges incurred in its Brazilian operation.

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