Chennai-based air freight rate and sales platform Air Freight Bazaar has been acquired by WebCargo. Hong Kong headquartered, Freightos, the parental firm of WebCargo is currently creating an international freight marketplace and Air Freight Bazaar’s acquisition is meant to enhance its presence in India considering the gradual growth of air cargo in the country. Indian airports, Mumbai and Chennai, figure in the top 10 fastest growing air cargo hubs in the world today.
“In terms of global cargo, India is far beyond the stage of a developing country. It is a global force to be reckoned with, with a robust ecosystem of logistics providers and carriers. Air Freight Bazaar’s market share and presence was a great validation of the region’s drive for digitalization; we’re confident that by working with the local team and their customers, we can take it even further,” said Eytan Buchman, chief marketing officer at Freightos.