ACU23 ISC2

Issue 16

NEWS

COUNTRY: INDIA

• BANGLADESH • BHUTAN •INDIA • NEPAL • PAKISTAN • SRI LANKA

Blue Dart net profit up 38%

Blue Dart Express Limited, South Asia's largest integrated air express, courier and logistics company, has declared its financial results for the second quarter at a Board Meeting held recently.
The company has recorded a Net profit of Rs 6.64 crores in the second quarter with an increase of 38% over the corresponding quarter in the previous year, and Rs 12.19 crores in the first half, an increase of 31% over the previous year's first half.
Income from operations in the second quarter has increased by 11% as compared to the corresponding prior period. The income has increased by 22% on a comparative basis without considering the income that the Company had earned from its erstwhile international alliance contract, which was allowed to expire by the Company on 30th September 2002.
Commenting on the results, Clyde Cooper,

Managing Director, Blue Dart Express Limited said, "It is our endeavour to provide continuous value to our customers. In the past quarter, we have further strengthened our capacity and infrastructure and technology prowess; we have expanded our presence in the South with 12 new direct served locations, expanding our reach to an additional 198 locations; we have acquired a fourth aircraft to be inducted into operations later in the year; and we have increased and improved our warehousing facilities in Maharashtra including our important hub at Bhiwandi besides adding on and upgrading our facilities in different parts of the country."
Added Mr. Cooper, "August and September have generally been good months for our business. The improved business environment has given a fillip to distribution, and our strengthened quality capacity is poised to support this growth".

Polar Air Cargo announces extensive agreement with Swiss WorldCargo

Polar Air Cargo and Swiss WorldCargo has announced an extensive agreement enabling the latter to purchase capacity on Boeing 747 freighters operated by the former on flights between Switzerland, Asia and the United States.
Under the agreement, SwissWorld Cargo has begun carrying cargo on Polar's three weekly scheduled-service roundtrip flights between Zurich, Switzerland, and Penang, Malaysia, via Delhi, India. The flight continues on to Hong Kong. This routing will provide Swiss the capacity to support the needs of its customers.
The blocked-space agreement substantially increases Swiss WorldCargo's capacity while enhancing its access to markets in Asia and North America. At the same time, the partnership provides additional support for Polar's growing worldwide network.
"This agreement further develops Polar's relationship with Swiss WorldCargo," said Edward Hernandez, Polar's Senior Vice President of Sales and Marketing. "Swiss WorldCargo already is our general sales agent in India and Dubai, and this agreement further solidifies our outstanding partnership. Swiss WorldCargo is a strong brand with expertise to complement our services. We are pleased to build on this partnership and we look forward to

capitalizing on the opportunities and efficiencies of our relationship," added Hernandez.
"I am very happy about this new agreement with Polar Air Cargo," added Oliver Evans, Executive Vice President of Swiss WorldCargo. "As we announced in July, Swiss WorldCargo is eagerly looking to make up for reduced capacity as a result of a smaller Swiss network. Today we have set a keystone of our replacement program covering both the North American and Asian market with additional capacity to meet our customers' needs. Now we can supplement our product with main-deck cargo capacity through our partner, Polar Air Cargo, one of the leading scheduled full-freighter operators."

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