Alibaba doubles stake in YTO Express Alibaba injected 6.6 billion yuan, or $970 million, to double its stake in YTO Express, looking to boost its logistics network which relies on third-party logistics services. Alibaba has invested in major couriers from YTO’s home base of Tonglu through its logistics arm Cainiao. YTO commands a 14 percent share of China’s express delivery market, according to TechCrunch. In 2018, a Cainiao-YTO joint venture started building a digital logistics … [Read more...] about Payload Asia’s Weekly Recap
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Global air cargo’s steady rally continues in August
Global air cargo was in its fourth straight month of growth in August as load factors jumped eight percentage points year on year, data from CLIVE Data Services and TAC Index showed. The whole month’s volume was down 17 percent from a year ago which was a far cry from the 41 percent decline seen in April, when demand started to rally. Air cargo volumes in the last week of August were four percent less than what were seen for the same period in 2019, putting off previous concerns of … [Read more...] about Global air cargo’s steady rally continues in August
Swissport under new owners following €1.9 billion debt-equity swap
Swissport will be under new management following a “lock-up” agreement with senior secured creditors, a press release confirmed. The deal includes a debt-for-equity swap worth €1.9 billion in existing debt, as well as a €500 million long-term debt facility and a €300 million interim facility to help the airport services provider stay afloat. Senior secured creditors, including SVP Global, Apollo Global Management, TowerBrook Capital Partners, Ares Management, Barclays Bank, Cross Ocean … [Read more...] about Swissport under new owners following €1.9 billion debt-equity swap
Amazon gets regulatory approval to test drone delivery
Amazon Prime Air, Amazon’s special service delivering packages in 30 minutes or less, has been approved by the U.S. Federal Aviation Administration (FAA) to start trials of transporting orders using autonomous drones. Amazon added that while the Prime Air fleet isn’t ready to immediately deploy package deliveries at scale, it’s actively flying and testing the technology. Amazon joins Alphabet’s unit Wing and United Parcel Service to receive FAA approval for drone delivery, whilst other … [Read more...] about Amazon gets regulatory approval to test drone delivery
Air Malta saves €5.5 million of state’s money on medical cargo transport
With some A320s on its 10-aircraft fleet according to its official website, Air Malta was faced with an arduous government request to deliver 800 tonnes of medical supplies to the front-liners of Mater Dei Hospital. A logistical nightmare given that Air Malta doesn’t have the capacity, the operations would require the national airline’s crew to undergo quarantine both in China and upon return to Malta. “Analysing government’s request regarding this exceptional load, it only made sense … [Read more...] about Air Malta saves €5.5 million of state’s money on medical cargo transport
CSafe Global sets up pharma hub in Taiwan
Ohio-based CSafe Global, which manufactures temperature-controlled container solutions for transport of pharmaceuticals, has expanded its presence with the start of a hub operations in Taipei, according to a press release. The cold chain specialist will have access to 2,500 square feet of space to store its RKN and RAP containers for local shippers. In a time when the global supply chain is getting ready for a corona vaccine, CSafe says this new facility will ensure supply for Taiwan’s … [Read more...] about CSafe Global sets up pharma hub in Taiwan
