Virgin Atlantic Cargo Joins Freightos' WebCargo to Bring Air Cargo eBooking to Thousands of Freight Forwarders Globally

Rhea-AI Summary

Freightos Limited (NASDAQ: CRGO) has announced a partnership between WebCargo by Freightos and Virgin Atlantic Cargo, a global air cargo leader. This collaboration aims to combine Virgin Atlantic Cargo's extensive network with WebCargo's digital reach, providing more options for forwarders globally. Virgin Atlantic Cargo's state-of-the-art cargo center 'dnata City East' offers the latest technology and facilities to handle cargo efficiently and ensures smooth connections to its onward network. The partnership means that freight forwarders in over 10,000 offices worldwide gain instant, digital access to Virgin's vast network, including key destinations such as New York, Los Angeles, and New Delhi.

Insights

Market Research Analyst

The partnership between Freightos Limited and Virgin Atlantic Cargo represents a strategic move in the logistics and transportation industry, particularly within the air cargo sector. By leveraging the digital reach of WebCargo, Virgin Atlantic Cargo can enhance its booking process, making it more efficient and accessible to freight forwarders globally. This digital transformation is a growing trend in the industry, aimed at reducing the complexity and increasing the transparency of cargo booking and tracking.

The collaboration has the potential to improve market share for both entities by tapping into each other's strengths. Virgin Atlantic's extensive network and advanced cargo handling facilities combined with WebCargo's expansive digital platform could streamline operations, leading to cost savings and improved service levels. This could translate into increased customer satisfaction and loyalty, which are crucial competitive factors in the air freight market.

Furthermore, the ability to offer more booking options and easier access to cargo space could be particularly advantageous amid supply chain disruptions. Companies that can provide reliable and efficient services are likely to be favored by forwarders seeking to mitigate the risks of delays and interruptions. This partnership could position both Freightos and Virgin Atlantic Cargo as preferred partners in the logistics industry, potentially impacting their market valuation positively.

Financial Analyst

The announcement of this partnership may have implications for the financial performance of Freightos Limited, given that increased digital access to cargo space could lead to higher booking volumes and revenue growth. The integration with a reputable airline like Virgin Atlantic Cargo could also enhance Freightos's brand image and credibility in the market, possibly leading to an uptick in its stock price as investor confidence grows.

It is important to monitor Freightos's operating margins following this partnership. The costs associated with the integration of services and technology, as well as any revenue-sharing agreements, will be key factors in determining the financial impact. However, if managed efficiently, the partnership could result in economies of scale and a stronger bargaining position with other industry players, potentially leading to improved profitability in the long term.

Investors should look for subsequent financial disclosures and earnings reports to assess the actual impact of the partnership on Freightos's bottom line. The company's ability to capitalize on this collaboration and convert increased digital bookings into sustainable profit growth will be a critical area of focus for stakeholders.

Supply Chain Expert

This partnership is indicative of the evolving nature of the global supply chain, where digital solutions are becoming increasingly critical. The ability to quickly and effectively book air cargo space is a significant advantage in an environment where supply chain disruptions are common. For businesses relying on timely deliveries, the partnership could mean improved reliability and efficiency in their supply chains.

From a supply chain perspective, the digital booking capabilities provided by WebCargo can help forwarders better manage their logistics, offering them real-time access to cargo space and rates. This can enhance decision-making and planning, leading to more optimized inventory levels and reduced costs associated with excess stock or expedited shipping. The partnership's potential to offer more flexible and responsive logistics solutions could be a game-changer for companies navigating the complexities of international trade.

Additionally, the emphasis on keeping products safe during transportation, including perishables and pharma, aligns with the increased demand for specialized logistics solutions. The ability to guarantee the integrity of such products throughout their journey is a valuable proposition for businesses in these sectors, potentially leading to increased demand for Virgin Atlantic Cargo's services.

BARCELONA, Spain, Feb. 5, 2024 /PRNewswire/ -- Freightos Limited (NASDAQ: CRGO), a leading vendor-neutral booking and payment platform for the international freight industry, announced that WebCargo by Freightos has partnered with Virgin Atlantic Cargo, a global air cargo leader. This collaboration combines Virgin Atlantic Cargo's extensive network with WebCargo's digital reach, providing more options for forwarders globally.

With the largest off-site cargo handling operation at the UK's largest commercial aviation hub in London, Virgin Atlantic Cargo flies to 30 destinations across four continents, including key locations across the United States, India, China, Nigeria, South Africa, and the Caribbean. Virgin Atlantic Cargo's state-of-the-art cargo center "dnata City East" offers the latest technology and facilities available to handle cargo efficiently and enables smooth connections to its onward network. The airline's facilities and the processes implemented worldwide are designed to keep all types of products from general cargo to perishables and pharma safe during their transportation.

"We are delighted to have partnered with WebCargo as we continue to provide intuitive experiences for our customers, so they can move cargo their way. As customer requirements and digital experiences evolve it's important for us to work with a platform that has an optimized digital booking process and provides access to the largest number of forwarders with seamless access to our global network," said Virgin Atlantic Cargo Managing Director Phil Wardlaw. "Customers are at the heart of everything we do and we strive to make air cargo easier for everyone, offering more ways to book and access our capacity," Wardlaw added.

"The addition of Virgin Atlantic Cargo's capacity to WebCargo means that freight forwarders in over 10,000 offices worldwide gain instant, digital access to Virgin's vast network, including key destinations, such as New York, Los Angeles, and New Delhi," said Manel Galindo, Chief Revenue Officer at Freightos. "Global reach is crucial in our current era of supply chain disruptions and Red Sea workarounds. We are proud to partner with Virgin Atlantic Cargo to expand trade between the people of the world."

To book cargo on Virgin Atlantic Cargo or to register for a free WebCargo account, visit https://www.webcargo.co/book-air-cargo-with-virgin-atlantic-cargo/

About WebCargo by Freightos
WebCargo is the leading platform for live air cargo rate distribution and bookings between hundreds of airlines and 3,500+ forwarders across over 10,000 forwarding offices. Partners include over 30 airlines, including China Southern, American Airlines, Turkish Airlines, Lufthansa, Etihad Cargo, Air France KLM, IAG Cargo, SAS, Qatar Airways Cargo, JALCARGO, and Emirates SkyCargo. Forwarders not yet using WebCargo can register for a free account at www.webcargo.co and begin accessing instant eBookings with dozens of carriers.

About Freightos
Freightos® (NASDAQ: CRGO) is the leading, vendor-neutral booking and payment platform that connects carriers, freight forwarders, and importers/exporters to make international shipping faster, more cost-effective and more reliable. Freightos operates freightos.com, a global freight marketplace for importers and exporters, Clearit, a digital customs brokerage, and Freightos Terminal, a one-stop global freight market intelligence solution that offers data on real-time pricing, transit times, the Freightos Air Index (FAX) and Freightos Baltic Index (FBX), and a news feed.

MEDIA CONTACT
Freightos
Tali Aronsky, PR Lead
tali.aronsky@freightos.com 

INVESTORS
ir@freightos.com  

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SOURCE Freightos

FAQ

What is the latest announcement from Freightos Limited (NASDAQ: CRGO)?

The latest announcement from Freightos Limited (NASDAQ: CRGO) is a partnership between WebCargo by Freightos and Virgin Atlantic Cargo, a global air cargo leader.

What is the goal of the partnership between WebCargo by Freightos and Virgin Atlantic Cargo?

The goal of the partnership is to combine Virgin Atlantic Cargo's extensive network with WebCargo's digital reach, providing more options for forwarders globally.

How many destinations does Virgin Atlantic Cargo fly to?

Virgin Atlantic Cargo flies to 30 destinations across four continents, including key locations across the United States, India, China, Nigeria, South Africa, and the Caribbean.

What does the partnership mean for freight forwarders worldwide?

The partnership means that freight forwarders in over 10,000 offices worldwide gain instant, digital access to Virgin's vast network, including key destinations such as New York, Los Angeles, and New Delhi.

Where can one book cargo on Virgin Atlantic Cargo or register for a free WebCargo account?

To book cargo on Virgin Atlantic Cargo or to register for a free WebCargo account, visit https://www.webcargo.co/book-air-cargo-with-virgin-atlantic-cargo/