Wednesday, October 26, 2016

AAI sets up new logistics subsidiary

Airports Authority of India, the state-owned airports operator, has created a wholly-owned subsidiary, AAI Cargo Logistics and Allied Services Company Ltd (AAICLAS). The new entity has been set up with a vision to become one of the foremost integrated logistics network operators in the country with the primary focus on handling air cargo and allied services.

The subsidiary though owned by AAI will be functionally and administratively independent. It will provide ground handling, documentation, transport services for carriage of bonded and non-bonded cargo and screening services and related value-added services at airports in India and abroad, AAICLAS said in a statement.

All the activities currently being carried out by the AAI cargo department will be merged with the new entity.

Speaking at the unveiling of the new entity here late on Tuesday evening, R.N. Choubey, Secretary, Civil Aviation, said the new company hopes to achieve a turnover of around Rs. 380 crore in the next one-and-half to two years.
26/10/16 The Hindu Business Line