Airfreight joint venture

PANALPINA and the SAirGroup have concluded an agreement to provide new joint services in the air cargo transport field. They have launched 'SwissGlobalCargo', which will provide fully-integrated door-to-door airfreight services with time-definite guarantees.
There are no weight
restrictions.
Panalpina has incorporated the air division of its Air Sea Broker subsidiary into the new company. As a further component, the Swiss, Italian and Austrian operations of SAirGroup's Jacky Maeder Group will be acquired by Panalpina and integrated into an independent company in the Panalpina network.
The Maeder group's Far East operations will be taken over by German partner Hans Geis GmbH. SAirGroup will acquire a 10% equity holding in Panalpina Holding in return for the transfer of Maeder's European operations.