Turkish Airlines, ZTO Express and PAL Air Sign JV Partnership
Turkish Airlines’, Turkish Cargo, Chinese cargo giant ZTO and Hong Kong based PAL Air Ltd have entered into a partnership deal to build a Joint Venture company.
The joint venture company signed in Istanbul recently, will operate as a Global Express/Courier company mainly focusing on Global E-commerce market with full door to door services.
After reaching fully functional and operational levels, the Joint Venture is expected to take place within the world’s largest integrators and will in 5 years, generate over 2 billion USD of revenue.
The deal is yet another strategic step from Turkish Airlines before moving to the New Istanbul Airport which will be opened by 29th of October this year.
When opened, the new Istanbul Airport and it will function as Turkish Airlines main operating hub and will gradually provide Turkish Cargo up to 4 million tons of cargo handling capacity, becoming one of the top 5 air cargo brands of the world.
The services of the new joint venture company will be based in Hong Kong and will include all door to door logistics activities including trucking, collection & distribution, freight transportation, cross docking and final mile delivery.
Turkish Airlines is the largest global airline in terms of reach. From its hub in Istanbul, the airline flies to over 300 domestic and international destinations in 121 countries.