Freight booking and payment platform Freightos Ltd is looking to go public on Nasdaq after the company entered into a definitive merger agreement with special purpose acquisition company (SPAC) Gesher I Acquisition Corp. The capital raised from the transaction will be invested to further scale the business, driving transaction value and improving margins. The implied pro forma enterprise value of the merger is estimated at approximately $435 million, leaving 78 percent stake to existing … [Read more...] about Freightos eyes Nasdaq listing with ‘special’ merger
cargo aviation
Mexican cargo airline starts scheduled flights to China
Mexico-based cargo airline mas, formerly known as MasAir, has added scheduled flights to China for the first time as it looks to expand its network into Asia. The new service will be operated by mas for Chinese forwarder Universal Translink Aviation Transportation Service ( UTA) and will connect Mexico City International Airport (MEX) and Zhengzhou Xinzheng International Airport (CGO) twice a week. The airline said it will increase the schedule to CGO three times each week in July, with … [Read more...] about Mexican cargo airline starts scheduled flights to China
IAG Cargo restarts cargo-only services to BKK and HKG
IAG Cargo is predicting a busy summer schedule and has restarted cargo-only services to Hong Kong and Bangkok using B787-9 aircraft. Daily flights from London Heathrow (LHR) to Hong Kong (HKG) have already started on 1 June, whilst flights between LHR and BKK from 24 May are being operated four times each week. IAG Cargo anticipates that e-commerce will continue to be a major growth sector for the business this year, after it saw 32 percent growth for its priority service, which has become … [Read more...] about IAG Cargo restarts cargo-only services to BKK and HKG
Drones usher in new era for air freight and logistics
The use of drones or unmanned aerial vehicles has certainly come a long way. From hot air balloons for reconnaissance in the late 1800s to remote-controlled planes for military purposes, the technology has greatly evolved and its usage has become widespread across different sectors, most notably logistics. Across the globe, leading engineers and companies are developing all sorts of drones for air cargo operations, whether for inspection, sorting in fulfilment centres, wildlife management or … [Read more...] about Drones usher in new era for air freight and logistics
Changi Airport gears up for more flights to South Korea
Starting this month of June, Changi Airport will see a 60 percent increase in services connecting to South Korea as three new airlines commence their operations. Low-cost carrier T’way Air will operate services to Seoul twice a week from 29 May, whilst Air Premia, which commenced Passenger Aircraft Carrying Cargo (PACC) operations in Changi late last year, will operate passenger flights to Seoul three times a week starting 29 June. Jeju Air will be the only carrier operating the … [Read more...] about Changi Airport gears up for more flights to South Korea
Emirates expands cargo capacity with new freighter
Emirates SkyCargo welcomed its newest B777F during the weekend, bringing the total number of the Boeing widebody freighter in its fleet to 11 aircraft. From Boeing’s Paine Field in Seattle, A6-EFT headed to Hong Kong to pick up its first load before touching down on Saturday morning at its new home in Dubai World Central, with a full freight load consisting of electronics, consumer goods and general cargo. The new freighter will add much needed capacity to the airline’s operations, which … [Read more...] about Emirates expands cargo capacity with new freighter
