Amazon has snapped up a 20 percent stake in cargo airline operator and lessor Air Transport Services Group (ATSG), which operates part of the company’s air fleet. The deal, valued at around $131 million, saw the e-commerce giant exercise warrants in ATSG, which will allow it to purchase around 13.5 million shares in the cargo airline at $9.73 per share, or more than $131.9 million, according to ATSG’s SEC filing on 8 March. Amazon also purchased around 865,000 shares of ATSG on a cashless … [Read more...] about Amazon takes stake in aircraft lessor ATSG for US$131m
Air Shipping Asia
Cathay takes record loss despite positive cargo revenue
Cathay Pacific Group highlighted the valiant effort of its cargo division in its 2020 annual results as its overall performance, particularly the passenger business, was severely hit, no thanks to the pandemic. The group reported a record annual loss of US$2.8 billion (HK$21.65 billion) last year, with group revenue down 51.6 percent from 2019 to US$6.04 billion (HK$46.9 billion). “The Cathay Pacific Group experienced the most challenging 12 months of its more than 70-year history in … [Read more...] about Cathay takes record loss despite positive cargo revenue
QR Cargo offers discount to support Qatari exports
To support local manufacturers in Qatar, Qatar Airways Cargo, together with state bank QDB (Qatar Development Bank), is offering discounted rates to exporters who are current QDB clients and hold a certificate of origin for their products, to reach international markets. The export products covered under this partnership include all types of general goods, except for dangerous goods. The special discount is available to more than 350 exporters—mainly QDB clients—who wish to ship their … [Read more...] about QR Cargo offers discount to support Qatari exports
EVA Air to add more cargo capacity this year
January saw EVA Air Cargo maintain momentum from 2020, with cargo revenue jumping 150 percent to US$171 million and yields up 86.2 percent compared to the same month last year. Payload Asia reached out to EVA’s cargo division to talk about their 2020 performance, which routes produced the highest yields, as well as ongoing preparations to expand in cold chain logistics. Can you describe what 2020 was like for EVA Air's cargo division? What were some of the moves that the airline had to make … [Read more...] about EVA Air to add more cargo capacity this year
SEKO Logistics expands in China to boost e-commerce
SEKO Logistics is set to boost its presence in China with the expansion of an existing warehouse and fulfilment centre in Shenzhen, backed by equity investor Ridgemont Equity Partners. The revamped facility will provide cross dock and export services as well as climate- and humidity-controlled zones for fulfilment of high-value e-commerce shipments and is expected to increase SEKO’s capacity by 400 percent to 250,000 parcels a day. Office accommodation will also be expanded as new staff … [Read more...] about SEKO Logistics expands in China to boost e-commerce
FedEx appoints Audrey Cheong as new Southeast Asia VP
FedEx Express has appointed Audrey Cheong, former managing director of its Singapore operations, as the new regional vice president for Southeast Asia. Audrey has been with FedEx for more than 23 years and has a wealth of experience from previous posts in China and Singapore. In her last role as managing director of Singapore, the company was recognised for employee engagement, quality service standards and customer experience. She will lead the overall planning and implementation of … [Read more...] about FedEx appoints Audrey Cheong as new Southeast Asia VP
