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Author: Tan KW   |   Latest post: Sun, 26 May 2019, 4:10 PM

 

AirAsia's cargo arm gets Tasco on board as first direct partner

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KUALA LUMPUR (Jan 9): AirAsia Group Bhd’s cargo and logistics arm, RedCargo Logistics Sdn Bhd, has secured its first direct partner, Main Market-listed Tasco Bhd.

Tasco, an NYK Group company providing global freight forwarding services, is utilising AirAsia’s network, which spans over 320 routes to more than 130 airports across 25 markets in Asia, Australia, the Middle East and the US, from Jan 1, AirAsia said in a joint statement today.

RedCargo was incorporated in March 2018 as the exclusive provider of cargo capacity for AirAsia and AirAsia X airlines.    

“With more than 50% of our network capacity still available for partners to book, RedCargo is open for business. We are confident that we will play an increasingly important role in facilitating trade and e-commerce fulfilment within Asean and across key trade lanes passing through Asia,” said its chief executive officer Pete Chareonwongsak.

Tasco’s managing director Freddie Lim said the tie-up enables the group to provide a higher level of service and competency to its clients.

“We look forward to working closely with RedCargo to expand our businesses both in Malaysia and regionally,” he added.

Shares in AirAsia closed two sen or 0.67% up at RM3 today, valuing the company at RM10.03 billion.

Tasco, meanwhile, edged up one sen to finish at RM1.11, for a market capitalisation of RM222 million.

 

http://www.theedgemarkets.com/article/airasias-cargo-arm-gets-tasco-board-first-direct-partner

 

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