GF-X REVEALS AA ROLE AS EQUITY HOLDER
Global Freight Exchange (GF-X), based in London, an Internet wholesale air freight marketplace, said Friday that American Airlines, Inc., has been an equity holder since the exchange’s first days.
“We believe that an electronic market in air freight is inevitable,” said Dave Brooks, president of American Airlines Cargo, a division of American Airlines Inc.
GF-X’s marketplace, operational since October of 2000, has raised more than $85 million in capital. Other equity holders include Morgan Stanley Dean Witter, British Airways, Deutsche Post World Net, Panalpina World Transport (Holdings) Ltd., Lufthansa Commercial Holdings, SALogistics/Swisscargo, and Consolidated Press Holdings.