Texel Air Australasia flies for Team Global Express
Logistics operator Team Global Express has partnered with Texel Air Australasia to operate four 737-800BCFs ...
GM: GAUGING RISKGXO: NEW BOT PARTNERWMT: CAPEX IN CHECKWMT: CFO ON AUTOMATION WMT: SPOTLIGHT ON AUTOMATIONHD: PRESSURE BUILDSFWRD: REVISED EBITDA MAERSK: TESTING ONE-MONTH HIGHFDX: UP UP AND AWAYRXO: COYOTE DEAL TAILWINDDSV: NEW REFI DEALR: WEAKENING AMZN: LIFESTYLE BATTLEKNIN: EXPANDED NETWORK OF CROSS-DECK FACILITIES
GM: GAUGING RISKGXO: NEW BOT PARTNERWMT: CAPEX IN CHECKWMT: CFO ON AUTOMATION WMT: SPOTLIGHT ON AUTOMATIONHD: PRESSURE BUILDSFWRD: REVISED EBITDA MAERSK: TESTING ONE-MONTH HIGHFDX: UP UP AND AWAYRXO: COYOTE DEAL TAILWINDDSV: NEW REFI DEALR: WEAKENING AMZN: LIFESTYLE BATTLEKNIN: EXPANDED NETWORK OF CROSS-DECK FACILITIES
PRESS RELEASE
Team Global Express (formerly Toll Global Express) has signed a A$250 million loan facility with the Commonwealth Bank of Australia (CBA) as part of an agreement to refinance its business. The funding will underpin Global Express’ business transformation and provide additional liquidity to support further investment into the business and fund its growth plans.
Global Express’ goal is to be the most sustainable national logistics solutions partner, as demands for national deliveries continue to accelerate and the business leans into the changing demands of consumers, e-commerce trends and emissions reductions targets.
Today’s announcement will support Global Express’ investments to support growth and further improve reach into key regional and rural areas.
Team Global Express CEO Christine Holgate said:
“Today’s announcement is reflective of the strong momentum of the Team Global Express business since it was acquired by Allegro only 12 months ago. In our first year we have achieved 16% revenue growth, invested in the business, and improved our profitability. We have more work to do, but our results combined with our new agreement with CBA, underpin a stronger future for our Group.
“I want to thank the Commonwealth Bank team, particularly Andrew Hinchliff (CBA’s Group Executive, Institutional Banking and Markets) for working with the Global Express Team to make this agreement possible.
“As we continue to simplify, transform and grow the Team Global Express business, we are pleased with our progress achieved by putting the focus back on our people and customers.
CBA’s Group Executive, Institutional Banking and Markets, Andrew Hinchliff said: “Team Global Express’ momentum and strategic direction position it well to meet the strong demand for sustainable solutions across Australia’s transport system. We’re pleased to support TGE’s continued transformation through the provision of this loan facility, which demonstrates CBA’s structuring capability and supply chains expertise.
“We look forward to continuing to work closely with Christine and the TGE management team as they further invest in the business, and in a range of exciting new sustainability initiatives. Supporting Australia’s transition to a brighter, more sustainable future is a strategic priority for CBA, and it aligns well with the goals of TGE.”
Chaos now rules the container shipping market, says Yang Ming CFO
US Logistics Solutions files for liquidation, with significant job losses
Maersk sets new chartering record with deal for $150,000 a day
Forwarders 'being squeezed' as spot and contract rates move further apart
More ships and more containers needed for 'feverish' box shipping sector
MSC and CMA CGM roll out new shuttle services as intra-Asia rates soar
Demand for air freight 'perking up', but this puts pressure on capacity
Idle containership fleet dips to pandemic era lows as carriers hunt tonnage
Comment on this article