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Alibaba’s Cainiao buys 15% stake in Air China Cargo

Cainiao, the cash-rich parcel tracking platform of Alibaba Group, has acquired a 15% stake in Air China Cargo (CA, Beijing Capital), Chinese financial data sources reveal, giving the latter’s registered capital a boost from CNY7.38 billion yuan (USD1.15 billion) to CNY10.69 billion (USD1.66 billion).

Launched by Alibaba in 2013, Cainiao Smart Logistics Networks is one of the biggest unicorn companies in China, valued in 2018 at CNY100 billion (USD15.5 billion). The company’s registered name, Zhejiang Cainiao Supply Chain Management Co Ltd, is now listed as the air freight specialist’s second-biggest shareholder, after Air China parent China National Aviation Holding with 45.0018%. Other shareholders include Cathay Pacific Airways China Cargo Holdings Co Ltd (12.24%) and Longstar Co Ltd (11.75%).

Cainiao Smart Logistics Networks has taken a number of actions on a global scale over the last year, adding new air, sea, and highway routes. It has entered into a partnership agreement with LATAM Airlines Group and Atlas Air to accelerate cargo connections between Asia and South America. It has signed...