Kuehne & Nagel buys stake in air cargo portal

Kuehne & Nagel buys stake in air cargo portal

   Kuehne & Nagel has acquired “a modest shareholding” in Global Freight Exchange (GF-X), the London-based air cargo reservations electronic portal said today.

   The terms of the equity purchase were not disclosed.

   The purchase represents a second equity investment in cargo portals for the Swiss forwarder, which has also bought a stake in the ocean container portal Inttra.

   Kuehne & Nagel has extended its commitment to use GF-X as its preferred reservations system for at least a further four years, the portal said.

   “Kuehne & Nagel will roll out usage of GF-X, and in particular the host-to-host booking functionality, across the whole of its global network,” GF-X said. Kuehne & Nagel has used GF-X since it first went live in 2000.

   Reinhard Lange, chief operating officer of Kuehne & Nagel International, said that GF-X system “is the best solution for electronic reservations for the air cargo industry.”

   A total of 17 air cargo carriers and 25 forwarders have signed up to the GF-X system.