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ISTANBUL: June 11, 2018. Turkish Airlines (THY) has announced plans to form an integrated logistics company called Global Express with ZTO Express and Hong Kong-based GSSA Pacific Air.

In 2016, prompted by the growth in China’s e-commerce market, Pacific Air formed PAL Express in partnership with Turkish Post to launch a BtC wholesale postal express service with last mile fulfillment.

Turkish Cargo A330FTHY chairman M Ilker Ayci said the new joint venture would provide first/last mile services with a particular focus on the global e-commerce market and generate annual revenue of US$2 billion within the first five years.

Global Express is expected to operate from Istanbul’s new airport where THY will have the capacity to handle four million tons of cargo annually. "The new joint venture therefore will capitalize on the growth of Turkish Cargo," he declared.

The three partners said the new company would provide door-to-door logistics, packaging, moving, on-location pick ups, distribution, freight transportation, cross docking, last mile delivery, warehousing and supply chain services.

Last month Alibaba and its logistic arm Cainiao Network announced they were the lead investors acquiring a 10 percent stake in ZTO Express for US$1.38 billion.

The investment is expected to further support both Cainiao and ZTO's efforts in building first and last-mile pickup and delivery capabilities, warehouse management, cross-border logistics and technology-driven smart solutions.

"ZTO has been an important partner to Alibaba Group and Cainiao Network in the development of the new digital economy,” commented Alibaba Group CEO and Cainiao Network chairman Daniel Zhang.

ZTO reported a 35.6 percent year-on-year rise in Q1 revenue to US$565.1 million; a 41.3 percent increase in gross profit to US$164.5 million; and net income of US$88.9 million – up 10.9 percent from the same period last year.

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