Cainiao Smart Logistics Network, part of e-commerce giant Alibaba, is the latest Chinese logistics player to expand into air cargo.
Last Thursday, through 100%-owned subsidiary Zhejiang Cainiao Supply Chain Management Co, Cainiao paid $248m for a 20% stake in Air China Cargo, the air cargo arm of the Chinese state-controlled airline.
Amid the well-publicised capacity and equipment crunch in container shipping, logistics businesses and shippers have been looking at alternatives like air …
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Source: The Loadstar