An initiative will be taken to start cargo flights from Maharaja Agrasen Airport in Hisar, Haryana for exporting fruits and vegetables to the Arab countries, said Haryana Chief Minister Manohar Lal Khattar while addressing an event. “New experiments are being done to increase the income of farmers. The government has also formed the Export Promotion Council. Besides, an initiative will be taken to start cargo flights from Maharaja Agrasen Airport in the coming time, so that fresh fruits and vegetables grown by state farmers can be exported to the Arab countries,” said the CM. He also stressed on the need for starting a new agricultural revolution. “We are ready to give every possible encouragement and support to these universities so as to ensure that the said research work is smoothly carried out. This desired research work will not only ensure reduction in agricultural cost but will also improve the quality of crops produced, which will further play a pivotal role in increasing the income of the farmers,” said Khattar. The CM urged the scientists working at the agricultural universities of the state to conduct research on the subject for adopting best ways to get a high yield at minimum cost. The focus should be on improving the variety of seeds. Also, the marketing board should make proper arrangements for the marketing of food grains, said Khattar. He once again highlighted that because of the constant exploitation of water, the underground water level is going down. Farmers should adopt sowing cash crops including fruits, flowers, vegetables, along with shifting to beekeeping, animal husbandry and fisheries, he said. “We also have to ensure optimum usage of water…for this micro irrigation has to …

Welspun One Logistics Parks (WOLP) launched its second fund of INR 2,000 crores, including a green shoe option of INR 1,000 crores. Welspun One Logistics Parks Fund 2 is the successor of WOLP Fund 1, a SEBI regulated Alternative Investment Fund or “AIF” offering for domestic investors which it had launched in early 2021. WOLP Fund 1 received a favourable response from investors and successfully raised capital commitments of ~INR 500 crore from a set of high net worth investors including marquee individuals and family offices. WOLP Fund 1 has delivered strong performance with a track record of 100% commitment across a portfolio of 6 investments, aggregating to ~6.5MM sf in a short span of ~1.5 years from its first close. Further, the portfolio has also seen excellent traction on the ground with ~50% of portfolio expected to be physically delivered, leased and operating by mid CY2023. The fund’s performance is reflected in its inception to date gross IRR of ~21% basis its 30 September Net Asset Value (NAV) which is computed based on an independent third party valuation by a leading international property consultant. The Company places a strong emphasis on creating and implementing robust processes for a high level of governance and transparency across its business. A recent initiative on this front is the “WOLP investor portal”, a first-of-its kind offering in the real estate private equity space which provides investors with online access to comprehensive information on their portfolio assets and performance along with a full repository of fund documents, all at the click of a button. Balkrishan Goenka, Chairman, Welspun Group said, “The warehousing industry is now a fully integrated priority sector in India that contributes …

Mohammad bin Salman bin Abdulaziz, Prime Minister, Saudi Arabia and Chairman, Public Investment Fund (PIF), announced the establishment of Riyadh Air, a wholly-owned company of PIF. According to an official release, “The new national carrier will leverage Saudi Arabia’s strategic geographic location between the three continents of Asia, Africa and Europe, enabling Riyadh to become a gateway to the world and a global destination for transportation, trade, and tourism. Riyadh Air will be chaired by Yasir Al-Rumayyan, Governor of PIF while Tony Douglas, who brings more than 40 years of experience in the aviation, transportation and logistics industries, has been appointed Chief Executive Officer. The airline’s senior management will include Saudi and international expertise, the report added. With Riyadh as its hub, “the airline will usher in a new era for the travel and aviation industry globally. Riyadh Air will be a world-class airline, adopting the global best sustainability and safety standards across its advanced fleet of aircraft equipped with the latest cutting-edge technology. The airline is expected to add $20 billion to non-oil GDP growth, and create more than 200,000 direct and indirect jobs.” The new national airline represents PIF’s latest investment in the sector along with the recently announced King Salman International Airport master plan, the release added. “Riyadh Air aims to enhance customers’ journey while connecting them to over 100 destinations around the world by 2030 through offering an exceptional experience with authentic, warm Saudi hospitality at its heart.”

CargoAi onboards its first Australasia carrier with Air NZ Cargo’s capacity now live on CargoAi’s digital marketplace (CargoMART). Air NZ Cargo will be offering its capacity from USA and Canada into New Zealand and Australia. “We are proud to be the marketplace of choice that Air NZ has chosen to commence its digital offering with. With our shared vision of transforming the air cargo landscape, we are looking forward to bringing the best digital booking experience that CargoMART offers to our joint customers,” says Matt Petot, CEO of CargoAi. Freight forwarders in USA and Canada can book general and express cargo instantaneously on all Air NZ Cargo routes. Users of CargoMART benefit from searching for real-time schedules, bulk quoting, e-Booking, the ability to Track and Trace each shipment, as well CargoAi’s Cargo2ZERO sustainable features to support the air cargo industry’s decarbonization mission. “We are pleased to be partnering with CargoAi as Air New Zealand Cargo looks to expand our customer base within the North American market. While we enjoy a strong presence from the ports where we operate direct flights, the sheer size of the U.S. and Canadian markets dictates we embrace platforms that expand our commercial reach. CargoAi will provide us the tools necessary to effectively offer cargo solutions to these customers for their everyday transportation needs into New Zealand and Australia,” said Brooke Roberts, Sales Manager, North America from Air NZ Cargo.

US-based express cargo carrier Mountain Air Cargo has launched its first ATR 72-600 freighter. The ATR 72-600F made its debut on March 6, flying from New Bern, North Carolina to Raleigh, North Carolina. Mountain Air Cargo said, “We are excited to provide containerised service that comes with the versatility of the new aircraft!” In August last year, Mountain Air Cargo requested US Department of Transportation (DOT) authorisation to operate large aircraft and in its application stated it planned to add an ATR-72-600F freighter to its fleet that would be used in interstate and foreign charter cargo operations under contract with FedEx. Based in Denver, North Carolina, AirT subsidiary Mountain Air Cargo provides flight and maintenance services in the eastern half of the US and the Caribbean Islands. According to last year’s US DOT application document, Mountain Air Cargo holds a 14 CFR Part 135 certificate and a 14 CFR Part 121 certificate issued by the Federal Aviation Administration (FAA) and operates 25 Cessna Caravans, 9 ATR-42s, and 9 ATR-72s on cargo flights in the US and the Caribbean, under a dry-lease agreement it has had with FedEx since 1980. Mountain Air Cargo states that it is one of seven feeder air carriers for Fedex in the US. The company also owns a 14 CFR Part 145 Repair Station in Kinston, North Carolina and performs maintenance work for itself and other commercial and government air carriers.

Global air cargo volumes fell -4% year-on-year in February as available cargo capacity rose above the pre-pandemic level for the first time in four years, according to the latest weekly market analysis from CLIVE Data Services, part of Xeneta. Global air cargo capacity increased for the eleventh consecutive month in February, up 11% on the same period last year. The global average air freight spot rate of USD 2.73 per kg declined -35% year-on-year but remained +52% ahead of the pre-Covid level seen in 2019. Niall van de Wouw, Chief Airfreight Officer at Xeneta, said the latest data means it’s time for the industry to let go of pre-Covid comparisons and to acknowledge a new baseline for air cargo market growth. “CLIVE Data Services was one of the first industry analysts to benchmark data versus the pre-pandemic level because a comparison was needed at the time to accurately measure air cargo’s performance. But the fascination and rhetoric around airfreight rates going back to the 2019 level needs to be replaced based on the inflationary components we now see. Name me a service or product that you acquired four years ago that you’re still paying the same price for now? The air cargo industry should be focused on where growth is going to come from because the general air cargo volumes have seen negative growth for four years, and based on the first two months of 2023 are still -8% in terms of chargeable weight compared to four years ago. That is not a growth market,” he said, adding 2019 was also a relatively weak year for air cargo after a buoyant 2018. He added: “The volumes are not there, flights …

GMR Aero Technic (GAT), the MRO (Maintenance, Repair and Overhaul) division of GMR Air Cargo and Aerospace Engineering Ltd. (GACAEL), has been awarded an Indefinite Delivery Indefinite Quantity (IDIQ) Boeing Global Services (BGS) contract to convert 737-800 passenger aircraft into a 737-800BCF configuration. GMR Aero Technic is the first Boeing Converted Freighter (BCF) partner to be located in India. The partnership will support conversions of both domestic and foreign aircraft. GAT has bagged the contract through a global competitive RFP (request for proposal) bid which Boeing had announced to identify MROs for their B737BCF program. GAT has been selected for the program post a detailed due diligence conducted by Boeing. GAT will be the 4th location after China, UK and Costa Rica, where the freighter conversion work will be performed for the B737 BCF program. Initially, this program will cover 30 plus aircraft BCF conversions, occupying multiple lines successively for appx. five years beginning in year 2023. Speaking on this partnership, Mr Ashok Gopinath, CEO, GMR Aero Technic said, “With the rise in the Indian aviation industry, MRO services in India has been one of the fastest- growing market globally. The partnership with Boeing reaffirms our capability to provide world- class MRO services and further contribute to the “Make in India” initiative. We thank Boeing for the opportunity given and look forward to working together for future initiatives.” “Our cooperation with GMR Aero Technic not only a testimony of the maturation of Indian MROs in the country to support the vision of Aatmanirbhar Bharat, but also supports the anticipated growth of the cargo sector in the region,” said Salil Gupte, president, Boeing India. Key features of GAT – GMR Aero …

After announcing plans to open logistics center in India, Boeing Co. is also planning to set up a facility to convert passenger aircraft into freight planes in India to capitalise on growing global demand for cargo, executives from the U.S. aviation firm said in various media reports. The facility will add to Boeing’s $1 billion supply chain sourcing from India and will help support India’s ambitions to become a global cargo hub, reports added. The planned facility comes amid a push by Boeing to expand in India. In February, the company said it plans to invest $24 billion to set up a logistics centre for airplane parts. Flag carrier Air India has also placed a record order for nearly 500 jets, worth more than $100 billion at list prices, with both Boeing and Airbus. Boeing Co said on Friday it would set up a facility in India to convert 737 passenger planes into dedicated freighters to tap into regional and global demand for the service. The investment, which adds to the U.S. manufacturer’s expansion into India on top of a record plane order by flag carrier Air India, comes despite a global economic slowdown that has weakened the global air cargo market.

Menzies Aviation has tied-up with IT major Wipro to “transform” its air cargo management services. The aviation company will use a new product, developed by Wipro, to “improve business efficiencies, employee experience, and customer service through increased automation”, a release stated. Wipro’s cargo handling product was designed using cloud-native technologies, it added, further noting that the product will result in increased transparency and real-time-tracking. Menzies will be rolling out the Wipro product to five air cargo locations — Bucharest in Romania; Wellington, Christchurch, and Auckland in New Zealand; and Macau in China — by the end of 2023, with further plans to fully implement it across its global network by the end of 2024.

Maersk Air Cargo has parked several leased cargo jets and dialed back flight activity in response to deteriorating demand in the airfreight market. And a planned route between China and the U.S. is on hold, possibly because adding new capacity doesn’t make economic sense. CMA CGM, another ocean carrier that now has an all-cargo airline, recently resumed service between Europe and the U.S. that had been temporarily suspended late last year, demonstrating that carriers respond differently to different regional conditions and corporate priorities, says reports. Only one of the three 767-300 freighters Maersk Air Cargo purchased directly from Boeing last year and outsourced to Miami-based Amerijet to operate between Asia and the U.S. was deployed in revenue service for a period of several weeks, according to flight tracking sites. Maersk acquired the factory-built planes as part of its strategic shift to directly serve importers with a fully integrated supply chain experience rather than simply providing commoditized port-to-port service. Amerijet launched service twice a week between Seoul, South Korea, and Greenville-Spartanburg International Airport in South Carolina at the end of October. The other two aircraft on Amerijet’s air operator certificate were idle at Incheon airport in Seoul, according to data from Flightradar24. One plane arrived from the U.S. on Jan. 4 and has not flown since. The other was inactive for more than two weeks starting Feb. 10, but departed Seoul on March 2 and arrived at GSP on Monday via Anchorage. Maersk officials last fall expressed eagerness about quickly utilizing all the aircraft and expanding their air cargo network in North America, including service between their hub at Chicago-Rockford International Airport and Korea, to create more routing options and flexibility …