Adapting and innovating

Singapore freight forwarders – Star Concord

AIA, one of the largest independent cargo sales and service networks globally, has worked diligently to build a reputation as a reliable partner to the industry. 

“We as a company are very flexible and dynamic and we were adopting the necessary structural, commercial and operational procedures in order to secure our results and growth path anticipating the business and industry trend accordingly,” Jaime Salguero, CCO of AIA Cargo said.

Adapting to industry evolution

With over 15 years of experience, AIA has kept a keen eye on the shifting GSSA industry landscape, responding proactively to changing customer demands.

“We adapted in recent years to the GSSA market evolution focusing strongly in market monitorisation, IT and digital development product diversification and business expansion in terms of new contracts and geographical growth,” Salguero said.

For example, AIA has taken to using data analytics to optimise day-to-day business, implementing technology and making full use of available management systems and different marketing and sales digital platforms to boost efficiencies and results.

“Our core business is commercial. Our teams are selling from sunrise to sunset and we support our commercial strategy with technology and sustainable models. That’s how we see it as a company,” he continued.

READ: AIA Cargo seeks to build on impressive year of growth

Resilience in the face of turbulence

The air cargo industry has experienced turbulence in recent years, notably due to the challenges brought about by the COVID-19 pandemic. AIA has attributed its resilience to their flexibility and dynamism. 

“We are actually very proud of how we diversified our business over the last years with innovative business segments, investment, acquisitions, network expansion and additional contracts so that today we have a number of different products and new business lanes helping us to balance our results,” Salguero stated.

Going global

AIA is a global company with a presence across Europe, Asia, and the Americas. The company also has its sights set on Africa as a key market in the coming years. 

“We actually can see a remarkable 2023 airfreight export markets decline as we anticipated by the end of last year,” Salguero explained. “Q2 slowdown was significant and Q3 going through summer business have seen a drastic decline. We expect a moderate recovery in Q4 to end up a decline cycle.” 

AIA anticipates the overall economy will see an upturn in 2024, boosting the airfreight market’s recovery.

“We are now planning and targeting substantial opportunities next year,” he added. “We are optimistic to find a very positive upturn in 2024.” 

READ: AIA Cargo makes senior management appointments in 2023

Future prospects

As the GSSA sector continues to evolve, AIA envisions that independent cargo GSSA companies will be at the centre of it, with a focus on finding ways to deliver a unique service to customers. 

“The sector will evolve further within the next years and independent cargo GSSA companies will play a key role in the market led by flexibility, tailor-made and dynamic sales and service solutions to our partners,” Salguero said. 

“Our strategy as a company is actively looking at future developments and opportunities in the cargo GSSA industry where artificial intelligence or commercial drone regulations will play a significant role over the years to come.”

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Author: Edward Hardy