American Airlines Cargo has purchased an undisclosed stake in internet-based wholesale airfreight marketplace Global Freight Exchange (GF-X), boosting its capital to over $85 million. GF-X, which includes British Airways World Cargo, Cargolux Airlines, Emirates SkyCargo, Lufthansa, Swisscargo and numerous freight forwarders, went live last October. Aerospace internet marketplace PartsBase suffered a $13.5 million loss last year, after a $5.9 million loss in its first year, on sales of $4.1 million ($362,000 in 1999). To reduce costs, the exchange has cut its workforce from 217 to 140, largely removing sales staff. Subscriptions, averaging $1,620 a year, total 4,756, with 632 added in the last quarter. Fewer customers than expected renewed. Continental Airlines is the latest subscriber. Aeroxchange has launched with an initial four products: strategic sourcing, inventory management, maintenance management and rotable reliability information. Virgin Atlantic and Mexicana have joined the exchange, making 15 airline members. After a test period, Avolo has launched a catalogue on its parts and services internet marketplace. It facilitates requests for quotes and transactions.
Source: Flight International
