FW: Uber Freight – Ebita loss widens but revenue improves
FREIGHTWAVES reports: Uber Freight posted its eighth consecutive quarter of negative earnings before interest, taxes, depreciation ...
ATSG: UPDATEMAERSK: QUIET DAY DHL: ROBOTICSCHRW: ONE CENT CLUB UPDATECAT: RISING TRADEEXPD: TRUMP TRADE LOSER LINE: PUNISHEDMAERSK: RELIEF XPO: TRUMP TRADE WINNERCHRW: NO JOYUPS: STEADY YIELDXPO: BUILDING BLOCKSHLAG: BIG ORDERLINE: REACTIONLINE: EXPENSES AND OPERATING LEVERAGELINE: PIPELINE OF DEALS
ATSG: UPDATEMAERSK: QUIET DAY DHL: ROBOTICSCHRW: ONE CENT CLUB UPDATECAT: RISING TRADEEXPD: TRUMP TRADE LOSER LINE: PUNISHEDMAERSK: RELIEF XPO: TRUMP TRADE WINNERCHRW: NO JOYUPS: STEADY YIELDXPO: BUILDING BLOCKSHLAG: BIG ORDERLINE: REACTIONLINE: EXPENSES AND OPERATING LEVERAGELINE: PIPELINE OF DEALS
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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