Freightos' WebCargo Announces Partnership with Thai Airways to Enhance Digital Air Cargo Services and Provide Innovative Payment Solutions

Rhea-AI Summary

Freightos' WebCargo (NASDAQ: CRGO) has announced a partnership with Thai Airways to enhance digital air cargo services. This partnership will integrate Thai Airways' cargo capacities into WebCargo's platform, providing real-time booking, pricing, and payment options. The collaboration will initially benefit freight forwarders in Australia, Japan, Thailand, and the UK. WebCargo Pay, the integrated payment solution, aims to offer seamless payments and reconciliations. This move supports Thai Airways' digital transformation and expands its audience, empowering more freight forwarders to grow their businesses efficiently.

Positive

• Integration of Thai Airways' cargo capacities into WebCargo's platform will enhance real-time booking and payment options.
• WebCargo Pay offers seamless payments and reconciliations, improving efficiency.
• Partnership expands digital access to one of Asia's largest air cargo networks.
• Thai Airways' extensive network can now reach a broader audience.
• This collaboration supports Thai Airways' digital transformation journey.
• WebCargo's platform will now cater to freight forwarders in Australia, Japan, Thailand, and the UK.
• Freightos' initiative aligns with its mission to evolve cargo bookings and payments.

Negative

• Initial phase is to only four regions: Australia, Japan, Thailand, and the UK.
• Potential risks if WebCargo Pay has technical issues or fails to deliver on seamless payments.
• Integration and implementation phase may cause temporary disruptions for Thai Airways' existing processes.

Insights

Financial Analyst

The partnership between Freightos' WebCargo and Thai Airways signifies a meaningful step towards digital transformation in the air freight industry. This can translate into increased operational efficiency and cost savings for both parties. For Freightos, integrating Thai Airways' extensive cargo network into its platform can potentially enhance its revenue streams through increased transaction volumes and broader market reach. This alliance also offers Freightos a competitive advantage by providing a more comprehensive and seamless service offering, possibly attracting more freight forwarders to the platform.

Market Research Analyst

This collaboration is poised to impact the air cargo market significantly. By incorporating real-time booking, pricing and payment processes, the industry can expect a shift towards greater transparency and accessibility. The ability for forwarders to book and pay in real-time simplifies logistics, potentially reducing lead times and increasing business agility. Additionally, the introduction of WebCargo Pay offers flexible credit and payment options, which can be particularly appealing to small and medium-sized enterprises (SMEs) that might have previously faced financial barriers in engaging with larger air carriers like Thai Airways.

Tech Expert

From a technology standpoint, the integration of Thai Airways' cargo capabilities into WebCargo's platform represents a robust advancement in digital logistics solutions. This move towards an integrated digital platform can help streamline operations, reduce manual errors and enhance data accuracy. Furthermore, the utilization of WebCargo Pay can support smoother financial transactions and better reconciliation processes. For tech-savvy investors, this indicates that Freightos is leveraging cutting-edge technologies to stay ahead in the competitive logistics industry, which could signal promising long-term growth potential.

BARCELONA, Spain, June 6, 2024 /PRNewswire/ -- WebCargo by Freightos (NASDAQ: CRGO), a leading independent booking and payment platform for the international freight industry, is excited to announce a new partnership with Thai Airways, a key Asian carrier and the national carrier of Thailand.  In the coming months, Thai Airways will integrate its cargo capacities into WebCargo's platform,  offering real-time booking, pricing, and payment processes. Soon, forwarders will be able to book and pay for air cargo directly with WebCargo Pay, an integrated payment solution that enables more seamless payments and reconciliations.

In its initial phase, this collaboration will leverage Thai Airways' extensive network to some freight forwarders in Australia, Japan, Thailand, and the United Kingdom seeking to book and pay for cargo services on Thai Airways through WebCargo's platform.

"By helping forwarders of different sizes easily book and pay for Thai Airways capacity on WebCargo's platform, we are not only expanding digital access to one of Asia's largest air cargo networks but also continuing our mission to help evolve how cargo bookings and payments are handled," said Manuel Galindo, Chief Revenue Officer of Freightos. "With WebCargo eBooking and Pay, Thai Airways will be able to expand their audience and provide their customers with smooth access to flexible credit and payment options, and to complete their bookings in seconds."

Operating out of its hub in Bangkok, Thai Airways is renowned not only for its comprehensive route network, but also for its commitment to customer service and operational excellence. Chirachet Chanawiset, Head of Cargo & Mail Commercial,  Thai Airways Cargo, said, "Thai Airways aims for service of  excellence to provide secure and environmentally-responsible air transport solutions. Our collaboration with WebCargo by Freightos is a key milestone in our digital transformation journey.  With WebCargo Pay, we are excited to reach a broader audience and empower a wider array of freight forwarders to grow their businesses, easily and securely."

Freight Forwarders interested in booking with Thai Airways can register here.

About WebCargo by Freightos
Freightos® (NASDAQ: CRGO) improves world trade by providing the vendor neutral digital booking platform for international freight. In an industry which till recently was offline, WebCargo® and 7LFreight by Freightos led the Digital Air Cargo revolution. Today over ten thousand freight forwarder offices, including the top twenty global forwarders, place thousands of air cargo eBookings a day on the platform with over fifty airlines. These airlines represent about 2/3rds of global air cargo capacity. Alongside ebooking, freight forwarders use WebCargo and 7LFreight software and data to automate rate management, procurement, pricing and sale of freight services, across all modes, allowing the forwarders to deliver more efficient and more transparent freight services to importers and exporters worldwide.

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SOURCE Freightos, Limited

FAQ

What is the new partnership announced by Freightos' WebCargo?

Freightos' WebCargo has partnered with Thai Airways to enhance digital air cargo services by integrating Thai Airways' cargo capacities into WebCargo's platform.

How will the partnership between Freightos' WebCargo and Thai Airways benefit freight forwarders?

Freight forwarders will have access to real-time booking, pricing, and payment options for Thai Airways' cargo services through WebCargo's platform.

What is WebCargo Pay?

WebCargo Pay is an integrated payment solution by Freightos' WebCargo that enables seamless payments and reconciliations for air cargo services.

Which regions will benefit from the initial phase of the WebCargo and Thai Airways partnership?

Freight forwarders in Australia, Japan, Thailand, and the UK will benefit from the initial phase of this partnership.

How does this partnership support Thai Airways' business goals?

This collaboration is part of Thai Airways' digital transformation journey, aiming to reach a broader audience and empower freight forwarders to grow their businesses.

What impact will the Freightos' WebCargo and Thai Airways partnership have on digital air cargo services?

The partnership will enhance digital air cargo services by providing real-time booking, pricing, and integrated payment options, improving efficiency and accessibility.