2000 Press Release
United Parcel Service and Jetair Sign Joint Venture in India
- UPS Jetair Express Private Ltd. Will Bring Enhanced Service to India Market
Mumbai, November 7, 2000 - United Parcel Service (UPS), the worlds largest express carrier and package delivery company and Jetair Ltd., Indias largest General Sales Agency, have agreed to form a joint venture, which will provide international express delivery services in India.
"India is a huge market, and to effectively serve this market we believe a comprehensive domestic air network is essential," said Ron Wallace, president of UPS International. "With Jetairs access to its sister company, Jetairways, a major domestic airline, the joint venture will have an unparalleled network across India."
"The new company, to be called UPS Jetair Express Private Ltd., will offer customers in India cost-effective shipping solutions, including the export and import of express documents and packages throughout the more than 200 countries and territories UPS serves worldwide.
"The joint venture will be headquartered in Mumbai and is expected to begin operations in early 2001. Plans are underway to establish operational facilities in Mumbai, Delhi, Bangalore and Madras. In addition to facilities, the joint venture will enhance customer service through the use of UPS technology.
"For example, UPS will begin deploying its industry-leading Delivery Information Acquisition Device (DIAD) in India during the second quarter of 2001. The DIAD hand-held data collector digitally captures customer signatures and package information an industry first. UPS drivers use the DIAD to record, store and transmit package information, helping UPS and its customers to keep track of shipments and verify deliveries.
"The UPS/Jetair JVC will bring a new dimension to the logistics industry in India," said Mahiyar Sadri, Jetair Ltd. CEO. "Jetair successfully represents the express and freight business for 18 international airlines and the company is looking forward to a successful business relationship with its new partner UPS."
"To further improve service to India, UPS plans to increase flights to Mumbai before the end of 2000. Presently, UPS operates five 767 flights a week out of Mumbai, connecting the city to UPSs Asia Pacific hub in Taipei and Europe hub in Cologne."
About UPS
UPS, the world's largest express courier and package delivery company, is a leading commerce facilitator, offering an unmatched array of traditional and electronic commerce services. Headquartered in Atlanta, Georgia, UPS employs 358,000 people worldwide and operates in more than 200 countries and territories. In 2000, UPS was chosen for the third consecutive year as "The Worlds Most Admired Company in the Mail, Package and Freight Industry" in a Fortune magazine survey.
About Jetair Limited
Jetair Ltd. was established in 1974 and today represents the express and freight business of 18 international airlines through associate General Sales Agency Companies such as National Travel Service, International Cargo Carriers Pvt. Ltd. and France Air Limited. Jetair Ltd. also represents one of the countrys most preferred domestic airlines Jet Airways. Jet Airways provides significant support to Jetairs express and freight volume for the international airlines it represents. In the FY 1999-2000, the organizations annual revenue exceeded US$500 million.
Please direct further inquiries to UPS Asia Pacific:
- Mr. Gerald Lim
Tel: 65-730 6445
or
- Ms. Tan Sock Hwee
Tel: 65-730 6334
Fax: 65-730 6336
Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding the intent, belief or current expectations of UPS and its management regarding the company's strategic directions, prospects and future results. Certain factors may cause actual results to differ materially from those contained in the forward-looking statements, including our competitive environment, economic and other conditions in the markets in which we operate, strikes, work stoppages and slowdowns, governmental regulation, increases in aviation and motor fuel prices, cyclical and seasonal fluctuations in our operating results, and other risks discussed in the company's filings with the Securities and Exchange Commission, which discussions are incorporated herein by reference.
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