And so the competition with Amazon truly begins! Following U.S.-based Amazon’s launch of an own-operated air freight network (operated by subsidiary carriers of ATSG and Atlas Air Worldwide Holdings Inc.), Beijing-based e-commerce giant JD.com, Inc., announced it was selling a 19.6 percent stake in the logistics subsidiary it spun-out as a standalone company last April, in a deal valued at US$2.5 billion. As the operator of one of the most extensive “self-owned” logistics systems in China, JD.com could deepen its involvement in the international airfreight business with today’s development.
For more on the implications of JD.com’s latest move into logistics, please see the article below from our sister publication, Cargo Facts:
https://cargofacts.com/jd-logistics-new-multi-billion-dollar-investors/
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