- JD Logistics Inc. is planning to set up its own line of planes as the Chinese firm eyes a greater slice of a global cargo market engulfed by cross-border supply chain snarls.
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The logistics arm of Chinese e-commerce giant JD.com Inc. plans to have no fewer than 100 planes in 2030, including jointly owned aircraft and leased, said Chief Executive Yui Yu. The company, which has previously flown aircrafts from airlines to transport goods, has won pilot approval from the Civil Aviation Administration of China to run its own air freight business.
Businesses worldwide are scrambling for ways to move everything from masks to consumer electronics out of China as widespread lockdowns and delays in manufacturing led to jams at the country s sea ports. Companies are increasingly turning to alternatives like air freight, but airlines are struggling to handle the backlog and take in new orders, especially over Christmas shopping season.
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Covid 19 has heavily impacted supply chain-related industries globally. We ve seen the shortage of shipping resources and air freight resources, said the CEO of the logistics firm, often referred to as Yu Rui, in an interview with Bloomberg TV. Although the pandemic-induced disruptions may not last long, The JD Logistics crisis has accelerated a shift to online shopping globally, while creating new business opportunities for companies like Covid 19.
JD Logistics, which raised $3.2 billion in an initial public offering in May in Hong Kong, joins other internet giants in snapping up their own jets. Amazon.com Inc. is considering purchasing used long-range cargo jets in a bid to directly import imports from China, Bloomberg News reported last week.
To grow its overseas business, the Beijing-based firm plans to beef up its offshore warehouse network and will prioritize building highly automated delivery facilities in North America and Europe over the next two years.
All shipments will enter the cross-border logistics market through and through, said CEO.
The company also plans to reduce its carbon footprint, saying that it would invest 1 billion dollars in low-carbon supply chains over the next five years.
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