Tuesday, November 2, 2021

Maersk buys German air freight company Senator for enterprise value of $644 million

 Denmark-based A.P. Moller - Maersk, the world’s largest container shipping company, today announced the acquisition of German air-based freight carrier company Senator International.



In addition, Maersk is purchasing two new B777 freighter aircraft and leasing three B767-300 cargo planes. To operate and manage this added capacity, cargo airline Star Air – the internal air cargo operation of Maersk established in 1987 - will become a key vehicle supporting Maersk’s logistics offering. Star Air operates a fleet of 15 aircraft: 12 Boeing 767-200SFs, 1 Boeing 767-300BCF and 2 Boeing 767-300Fs.

"By strengthening our footprint within air freight, we become a sizable player able to add even more flexibility to our customers’ supply chains and further support their needs for truly integrated logistics across the ocean, air and landside," an official statement said. “Senator will contribute with offerings within air freight out of Europe into the USA and Asia, and thereby add strong capabilities and geographical reach to our integrator vision."

Read Full Story ….. www.stattimes.com

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