DHL seeks deal with rival UPS to ship its air packages

DHL, the struggling express shipping unit of German postal service Deutsche Post, wants United Parcel Service Inc. to carry some of its air packages in North America. The collaboration between the rivals would give UPS a hefty new revenue stream and help DHL cut costs.

It remains to be seen whether Deutsche Post's restructuring of its operations in the U.S. will only be a Band-Aid for its problems or provide a long-term solution.

In March, Deutsche Post said its fourth-quarter profit slid by more than 60% after it wrote down the value of its DHL unit. DHL is slashing network capacity in the U.S. by 30%, which includes closing and consolidating sorting facilities and streamlining pickup and delivery routes.

Read Full Article from Los Angeles Times

- Posted: 2008-05-29 08:49:02

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