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
YTO Express
YTO Express looks to widebody freighters for int’l expansion
Alibaba-backed Shanghai YTO Express (Logistics) Co, China's third largest express-delivery company is planning to introduce at least three widebody freighters to its fleet in 2018 as it seeks to expand its international delivery operations, its chairman said on Monday, according to a China Daily report. YTO Express chairman,Yu Weijiao said the freighters will support the company's overseas parcel delivery service, cross-border e-commerce business and temperature-controlled supply-chain … [Read more...] about YTO Express looks to widebody freighters for int’l expansion
YTO Express gets ‘ok’ to launch cargo carrier
Seeking to tap China’s 2015-estimated nine million tonne air freight market, YTO Express is the latest Chinese express provider to receive approval to launch a domestic cargo airline. The Hangzhou Xiaoshan International Airport-based carrier will initially operate either B737-300 or 737-400 freighters on domestic routes with plans to expand to 15 Boeing freighters in the next three years. The company plans to invest CNY5.5 billion (US$890 million) in its … [Read more...] about YTO Express gets ‘ok’ to launch cargo carrier
YTO Express gets 'ok' to launch cargo carrier
Seeking to tap China’s 2015-estimated nine million tonne air freight market, YTO Express is the latest Chinese express provider to receive approval to launch a domestic cargo airline. The Hangzhou Xiaoshan International Airport-based carrier will initially operate either B737-300 or 737-400 freighters on domestic routes with plans to expand to 15 Boeing freighters in the next three years. The company plans to invest CNY5.5 billion (US$890 million) in its … [Read more...] about YTO Express gets 'ok' to launch cargo carrier
