FW: Uber Freight’s $851m payout to Greenbriar highlights creative deal structures
FREIGHTWAVES reports: Managed transportation and technology provider Uber Freight’s (NYSE:UBER) conclusion in October of an $851 ...
FDX: ABOUT USPS PRIVATISATIONFDX: CCO VIEWFDX: LOWER GUIDANCE FDX: DISRUPTING AIR FREIGHTFDX: FOCUS ON KEY VERTICALFDX: LTL OUTLOOKGXO: NEW LOW LINE: NEW LOW FDX: INDUSTRIAL WOESFDX: HEALTH CHECKFDX: TRADING UPDATEWMT: GREEN WOESFDX: FREIGHT BREAK-UPFDX: WAITING FOR THE SPINHON: BREAK-UP ALLUREDSV: BREACHING SUPPORTVW: BOLT-ON DEALAMZN: TOP PICK
FDX: ABOUT USPS PRIVATISATIONFDX: CCO VIEWFDX: LOWER GUIDANCE FDX: DISRUPTING AIR FREIGHTFDX: FOCUS ON KEY VERTICALFDX: LTL OUTLOOKGXO: NEW LOW LINE: NEW LOW FDX: INDUSTRIAL WOESFDX: HEALTH CHECKFDX: TRADING UPDATEWMT: GREEN WOESFDX: FREIGHT BREAK-UPFDX: WAITING FOR THE SPINHON: BREAK-UP ALLUREDSV: BREACHING SUPPORTVW: BOLT-ON DEALAMZN: TOP PICK
FREIGHTWAVES writes:
Zongteng Group, a major provider of cross-border warehousing and logistics services for e-commerce sellers, announced Monday the acquisition of its first freighter to help customers reach global markets faster.
The news follows a growing trend of online sales platforms, such as Amazon and JD.com, and logistics providers creating private-label airlines to better control capacity and service reliability rather than exclusively rely on scheduled, multiparty carriers.
Shenzhen, China-based Zongteng Group purchased a second-hand Boeing 777 freighter to increase its warehouse fulfillment capabilities, a spokesperson said. Flight-tracking websites show the plane was previously owned by China Cargo Airlines. Zongteng said Chinese start-up Central Airlines will fly the large, all-cargo aircraft three to four times per week from Shenzhen to the Middle East and Europe for subsidiary YunExpress.
The initial route, which was inaugurated Sept. 30, connects Shenzhen with Riyadh, Saudi Arabia. The spokesperson said Zongteng will launch service on its primary route, between Shenzhen and Paris’ Charles de Gaulle Airport, in December. The news release suggested air logistics service will eventually extend to North America…
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