Creditors' plan to sell debt-laden Asiana Airlines to its bigger rival Korean Air faces a bumpy road as a local equity fund has filed an injunction against the plan, according to a report by Yonhap News. On 17 November, Asiana's main creditor, state-run Korea Development Bank (KDB), signed an investment agreement with Korean Air's parent holdings company Hanjin KAL to inject 800 billion won (US$723 million) into Hanjin KAL through a rights offering and convertible bonds. Hanjin KAL will then … [Read more...] about Nutty business: Korean Air’s Asiana buyout plan to face injunction
Air Shipping Asia
Digital freight forwarder Beacon opens shop in Hong Kong
Beacon, a digital freight forwarding and supply chain finance company, is expanding its presence in Asia with a new office in Hong Kong. With Asia-Europe as its biggest trade lane, the London-based firm said establishing an office in Hong Kong will be an important strategic development for the company. Set up in 2018, Beacon is disrupting traditional freight forwarders and the logistics and supply chain with its digital platform which combines real-time tracking of cargo, a marketplace for … [Read more...] about Digital freight forwarder Beacon opens shop in Hong Kong
Cainiao gives last-mile boost in Malaysia, expands into Japan
Cainiao Network has partnered with Shanghai-based Yunda Express to strengthen last mile delivery efficiency in Malaysia via a comprehensive network of collection stations. It also aims to drive digitalisation through AI-powered smart sorting and IoT-enabled parcel management systems. Alibaba's logistics arm said there will be over 100 collection stations strategically located near communities and business districts across the country, with plans to expand to 500 stations to include West … [Read more...] about Cainiao gives last-mile boost in Malaysia, expands into Japan
SIA Cargo taps IBS Software for its digital operations
Singapore Airlines (SIA) will deploy IBS Software's SaaS-based cargo management solution, iCargo, to bring its global cargo operations onto a single digital cargo platform to improve operational insight across its entire network, a press release confirmed The implementation will see SIA transitioning from its existing air cargo systems to iCargo to support its cargo business units, which include sales, import and export operations, air mail handling and revenue accounting. This will allow SIA … [Read more...] about SIA Cargo taps IBS Software for its digital operations
DHL Express outlines €750 million investment in Asia Pacific
DHL Express said it will invest around €690 million between 2020 and 2022 to build or expand its facilities in Australia, Japan, Hong Kong and South Korea. It also plans to spend close to €60 million to bolster its Asia Pacific air network with new direct and frequent flight routes. The expanded infrastructure and new flight routes across Asia Pacific are said to help the company tackle the unprecedented growth in shipment volume and address the demand for time-definite express deliveries. … [Read more...] about DHL Express outlines €750 million investment in Asia Pacific
Emirates deploys A380 for cargo charter operations
Emirates SkyCargo has started using its Airbus A380 aircraft on select cargo-only charter operations, with the first of so-called ‘mini-freighter’ flights successfully transporting medical supplies between Seoul and Amsterdam via Dubai. Working with the engineering and flight operations teams of Emirates, the air cargo carrier optimised the capacity of the A380 aircraft to carry around 50 tonnes of belly cargo per flight. Also read: Emirates SkyCargo to reopen Dubai South … [Read more...] about Emirates deploys A380 for cargo charter operations