Digitalisation gaining excellent momentum: global carriers

New business from airlines investing in digitalisation has helped global freight booking and payment platform Freightos achieve strong growth in the SQ of 2022. Freightos recorded 1.5 lakh platform transactions, resulting in growth of 163% y-o-y in the second quarter. Gross Booking Value was US$155m—up 137 per cent y-o-y, while revenue was US$5.2 million—up 30 per cent y-o-y. Freightos Chief Executive Zvi Schreiber, said, “Freightos continues to demonstrate strong, predictable growth that exceeded targets, despite macroeconomic volatility that impacted consumer buying patterns, supply chains, and global freight. We are seeing excellent momentum, with the number of transactions growing 163 per cent y-o-y, as well as 137 per cent growth in GBV. Growth in transactions was fuelled on the supply side by major airline rollouts such as American Airlines Cargo, LATAM Cargo, and Air Canada Cargo, as well as increased bookings with existing carriers.”