MUMBAI: March 30, 2016. Tata Sons is to increase its stake in Air Asia India to 49 percent following the purchase of a 7.94 percent shareholding from Telestra Tradeplace (Telestra).
With this month's purchase of Telestra's remaining 2.0 percent stake by two of its directors, S Ramadorai (chairman) and R Venkataramanan, the company will cease to be a shareholder in the airline and leave Tata and Air Asia Investment with 49 percent each.
Brazil green light for FedEx/TNT
MEMPHIS/HOOFDDORP, Netherlands: March 30, 2016. The reported attempt by UPS to block the FedEx/TNT Express merger in Brazil on anti-trust grounds has failed following its rejection by the country's competition authority Conselho Administrativo de Defesa Econômica (CADE).
FedEx and TNT have now obtained unconditional competition approval in the EU, Brazil and the U.S. and await approval from China. Both companies said they still expect to close their merger before the end of June this year.
APM wins Tangier concession
TANGIER, Morocco: March 31, 2016. APM Terminals (APM) is the operator of a new container transshipment terminal at the Tanger Med 2 port complex. Tanger-Med is the second-busiest container port on the African continent after Port Said, Egypt and the new terminal will increase the port's total annual throughput capacity to over nine million TEUs.
APM, part of the Maersk Group, already operates at Tanger Med 1 port, which started operations in July of 2007 and handled 1.7 million TEUs last year. The new terminal will have an annual capacity of five million TEUs and open in 2019 under a 30-year concession from managers Tanger Med Special Agency. Total investment is forecast to be €758 million.
ABC adds third Singapore frequency
MOSCOW: April 01, 2016. AirBridgeCargo Airlines has begun a third weekly service to Singapore from its Moscow hub with onward connections to Hong Kong. The airline says it is averaging 1,200 tons a month on the route.
Lim Ching Kiat, Changi Airport Group's senior vice-president for Market Development said: "This growth in capacity will provide more cargo options between Singapore and Russia, as well as beyond to Europe and the United States. Going forward, we will continue to work with AirBridgeCargo to pursue growth opportunities at Changi."
The airline says it increased its volumes to/from Asia by 25 percent last year.