Express cargo carrier DHL said it has seen its Asia business stabilising since March, amid hopes that negative fallout from the global downturn may be starting to ease, Reuters reported.
After seeing volumes drop off last August and September, DHL, a unit of Deutsche Post has seen its business ‘bottoming out’ over the last six weeks, according to Stephen Fenwick, senior vice president of operations for the Asia Pacific.
Cargo News Asia reported that he said, ‘We’re hoping it’s not just a dead cat bounce.’We hope we see a bottoming out in the rest of 2009. South Asia is less affected by the downturn. China seems to be doing better.’
(Dead cat bounce is a phrase with immense appeal. I shall use it to the point of boredom.
He added that DHL’s sales in Asia were flat in the first quarter from a year earlier.
Fenwick gave his regional outlook the same week that Deutsche Post, Europe’s biggest mail and express delivery company, said its first-quarter operating profit was hit by the continued slump in demand, though there were early indications that volume declines had bottomed.
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