AirAsia signs MoU for Thai JV to grow air cargo services
AIRASIA Group Bhd has proposed a joint venture with Triple i Logistics Public Co Ltd in Thailand for its indirect wholly-owned subsidiary Teleport Everywhere Pte Ltd to provide logistics services to its associate companies Thai AirAsia Co Ltd and Thai AirAsia X Co Ltd.
The three parties Thai AirAsia, Thai AirAsia X and Teleport jointly signed a memorandum of understanding (MoU) with Triple i.
Founded in 2018 and formerly known as RedCargo Logistics, teleport provides cargo and logistics services to merchants and companies to move goods, and e-commerce anywhere in Southeast Asia and beyond.
Meanwhile, Triple i is a total logistics integrator with 27 years of experience in the international forwarding and logistics industry. It also provides services as a carrier, logistics operator, freight forwarder for international and domestic air freight, sea freight, inland transport as well as providing services in logistics and supply chain management for general cargo, hazardous chemicals and dangerous goods.
In a filing with Bursa Malaysia dated July 25, AirAsia said “The MoU aligns with Teleport’s mission to move goods and e-commerce seamlessly throughout Southeast Asia, taking full advantage of AirAsia Group’s network of more than 100 cities and 10,000 weekly flights across Asia Pacific.”
Particularly, it allows Teleport to integrate the rights to the cargo capacity in Thailand for Thai AirAsia and Thai AirAsia X with the wider AirAsia Group’s network.
“With such integration, Teleport can provide network cargo capacity to the JV Co that acts as a General Cargo Sales Agent. The JV Co will also expand to provide other logistics solutions and services.”
The chief executive officer of Teleport, Pete Chareonwongsak, said with its infrastructure and strong network of 35 of the region’s top 50 cities, the company intends to help individuals and companies transport items “quickly and painlessly.”
“We would like to thank AirAsia and the Triple i team for placing trust in our strategy to transform the e-commerce logistics industry in Southeast Asia. It’s with this shared vision, our technology and the combination of Triple i’s local experience that we will ultimately make magic happen in Thailand,” he said.
Triple i Group chief executive officer Tipp Dalal shared that AirAsia and Teleport both share its vision to develop and grow demand for air cargo services.
“Through this joint venture, we will be able to create new and innovative logistics solutions, combining the strengths and expertise of all partners. This is a reflection of our strong and long-standing business relationship and our goal to become the leading air logistics business in the region.”