Toll leases two 737 freight planes for Virgin

<p>Toll Holdings’ Australian air freight ambitions took wing yesterday (Wednesday, February 21) as managing director Paul Little revealed that Toll had leased two specialised used 737s for the purpose.</p> <p>Confirmation came as Toll said interim net earnings were $215m as revenue rose 142% from $2.1m to $5.089bn.</p> <p>Mr Little would not speculate on the imminent Australia Competition and Consumer Commission decision on Toll’s plan to split the firm while placing the whole of Pacific National in the Infrastructure Company (InCo) spin-off, rather than selling half as it had pledged.</p> <p>On agitation by the Container Logistics Action Group (CLAG) on access and pricing at Port Botany, InCo chief-in-waiting Mark Rowsthorn said CLAG was not a recognised industry body and no negotiations would take place with it.</p> <p>He said supply chain costs had increased &#8220substantially more than stevedoring charges&#8221. </p> <p>Addressing the move into north Asia and China especially, Mr Little told <em>Lloyd’s List DCN</em> he was confident that the company had the expertise in-house to make the right acquisitions, citing the SembCorp Logistics success, but pointed to its relationship with China Merchants as an option. </p> <p>&#8220If our move into a country needs to be by way of joint venture to mitigate risk, then that’s what we will do.&#8221</p> <p>Asked if he had shaken hands on December 22 with ANL chief John Lines on the divestment of Patrick Shipping, Mr Little said: &#8220I haven’t seen seen John Lines for about six months.&#8221</p> <p>Later, he said it was not the case that a deal was agreed: &#8220In all of these cases, if the vendor can generate a competitive outcome between two organisations that’s what you try and achieve. </p> <p>&#8220We had two groups that were very keen to acquire the asset.&#8221</p> <br />