Air France-KLM-Martinair Cargo is investing EUR€75 million (US$103.7 million) in expanding express, postal and pharmaceuticals markets to counter falling yields and drive a return to profitability by 2016, according to Shipping Gazette.
Lingering worldwide declines of recent years have brought air freight revenue flown tonne kilometres (FTK) down 5.7 per cent in the first quarter while group cargo sales only fell 3.5 per cent.
Air freight has struggled to capitalise on e-commerce, but Air France-KLM-Martinair Cargo (AFKLMP) enjoyed seven per cent growth in its express and postal business, 12 per cent of the group's cargo volume.
A cargo new facility at Chares de Gaulle Airport to enter service next year will be operated by Sodexi, a subsidiary 75 per cent owned by AF-KLM and 25 per cent owned by French postal group Geopost.
Elsewhere, investments have included upgrades to the group's cargo, express and mail handling IT systems that have improved tracking and visibility, reports Lloyd's Loading List.
The EUR25 million (US$34.5 million) investment in the group's pharmaceuticals handling capabilities will include a new distribution centre at Amsterdam Schiphol airport, improved cool facilities worldwide, and real-time tracking of temperature-sensitive shipments.
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