Teleport, the Capital A logistics subsidiary, is looking to bolster its freighter fleet from the present three to ten by the end of 2025 and is mulling an IPO further down the track, CEO Pete Chareonwongsak has told Bloomberg.
Securing the additional freighters should not be a problem given the current over-supply, he said. “It’s very easy to get freighters, either A321, A320, A330s, or any variants,” he added. “Getting seven new ones is the easy part; the hard part is how to pay for them.”
Teleport's three existing A321-200(P2F)s, 9M-TLA (msn 1607), 9M-TLB (msn 1023), and 9M-TLP (msn 926), are operated on its behalf by AirAsia (AK, Kuala Lumpur International), according to ch-aviation fleets data.
Teleport has raised USD40 million to date. However, Chareonwongsak says the company will rely on an asset-light model rather than additional fundraising. He said the aircraft could either be third-party or their own. Teleport wants to be carrying two million parcels a day by the end of 2025, and the longer-term goal is to snag around 30% of Southeast Asia's USD3 billion e-commerce market. Next-day delivery across Southeast Asia at affordable prices is the company's "growth stage" for much of the remaining decade, he said.
When Teleport is tracking towards that kind of market share, Chareonwongsak said it would be time to consider an IPO. He also commented that Capital A's plan to spin off its other aviation assets, including the various AirAsia and AirAsia X brands, will not impact Teleport.
“We always operated a very arm’s length business, we have been funded independently, and we continue to grow on top of AirAsia’s growth,” he said.
