Singapore governmentowned investment company, Temasek has taken a 27.74 percent equity stake in First Flight, a courier and express delivery company based in Mumbai, India. The deal is reported to be valued at Rs 107.5 crore. The funds raised by the transaction would enable First Flight to expand its aviation and warehousing businesses. Established in 1988, First Flight offers traditional courier services, as well as surface and air cargo services. … [Read more...] about Temasek buys into India’s First Flight
cargo aviation
DHL eyes bigger piece of Exel-Sinotrans
Deutsche Post World Net (DPWN) has expressed interest in acquiring Sinotrans’stake in the Exel-Sinotrans Freight Forwarding joint venture, Xinhua news agency reported. This follows a Reuters report that Sinotrans is currently revisiting its corporate strategy and plans to shift key assets into its Hong Kong unit. Industry speculation is further fuelled by reports in April that Sinotrans’ CEO indicated an interest in selling the company’s stake in the joint venture. Half of … [Read more...] about DHL eyes bigger piece of Exel-Sinotrans
DHL to acquire residual Blue Dart stake
Shares of Indian express operator Blue Dart Express surged last month on talk that DHL has agreed to an offer price of Rs 950 per share to acquire the remaining stake in the company. DHL acquired a majority stake in Blue Dart in 2004 and has since then been trying to acquire the residual stake and delist the company. DHL currently holds a little over 81 percent in Blue Dart through DHL Express Singapore, while institutional investors collectively hold 10.34 percent. Individual investors have … [Read more...] about DHL to acquire residual Blue Dart stake
China to attract express sector investments
China plans to attract private investment in the express airfreight delivery sector to boost the development of the industry, according to Da Wa, the Director General of the Post Offi ce’s regulatory department. Da said he was contacting other departments to gather statistics on Chinese express delivery companies, and intends to lay the groundwork for policies to promote development of the private sector, Xinhua reported. Demand for express airfreight services is expected to increase … [Read more...] about China to attract express sector investments
ANA, OCS in express service venture
ANA (All Nippon Airways) has teamed up with Tokyobased OCS (Overseas Courier Service) to jointly develop a new international express delivery service aimed primarily at the growing Asianmarket. BEAM, as the new service will be known, will be launched at the end of August. Services will first be offered to Shanghai - using ANA’s late night cargo fl ights from Tokyo Haneda via Osaka Kansai - and rolled out to other points in China as demand for the service develops. … [Read more...] about ANA, OCS in express service venture
THAI Cargo
THAI Cargo said that until September30, 2007, it is offering discountfreight charges for travelers carryingdomestic air tickets, who want toship unaccompanied live pets (ULP)and unaccompanied baggage(UCB). … [Read more...] about THAI Cargo