Chinese FedEx rival eyes stake in $5 billion Kerry Logistics arm

SF Holding Co., one of the largest Chinese package-delivery services, is exploring a potential investment in tycoon Robert Kuok’s listed logistics business, people with knowledge of the matter said. The Chinese courier is in talks to acquire a minority stake in Kerry Logistics Network Ltd., according to the people, who asked not to be identified[…]

Challenge Airlines expects increased utilization from Alibaba flying

Increased flying for Cainiao, Alibaba’s capacity-hungry logistics affiliate, may further increase block hours flown by Belgium-based Challenge Airlines and its affiliate, Israel-based CAL Cargo, absent fleet additions. Three-times-weekly service between Hong Kong (HKG) and TLV began in late 2020 and caters to booming cross-border volumes between China and Europe. “A majority of the capacity is[…]

American Air warns of 13,000 layoffs as summer outlook dims

American Airlines Group Inc. warned 13,000 employees that they could be laid off, many for the second time in six months, saying a much-anticipated summer travel rebound isn’t materializing. The carrier will send out government-required WARN notices Feb. 5, Chief Executive Officer Doug Parker and President Robert Isom told workers in an email Wednesday. The[…]