TNT reported first-quarter net income of €76 million ($101.9 million), down 53% from a €179 million profit in the year-ago period, saying that "international express volumes are under significant pressure." Operating income fell 40.8% to €163 million on a 7.8% rise in revenue to €2.44 billion. TNT Express, the expedited delivery segment that relies heavily on air operations, was affected by "continued recessionary pressure on volumes, though decline seems stable since ...

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