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Tag: revival

Tri-Cities Intermodal moves forward to develop intermodal center

Wallula, Washington, October 10, 2023 – Tri-Cities Intermodal (TCI) has signed a lease/purchase agreement to acquire the former Cold Connect warehouse and property, with plans to develop an adjacent intermodal ramp in Wallula, WA. The plan represents a revival of the plans previously announced by Tiger Cool Express before they shut down operations in June. Tri-Cities Intermodal is an entirely new company – and the transaction had no connection to Tiger Cool.

Tri-Cities signed the lease/purchase agreement on Sept. 27, 2023, with Union Pacific Railroad Corporation (NYSE: UNP).

The envisioned Tri-Cities Intermodal Center will benefit the entire agricultural community in the three-state region by providing cost-effective and sustainable transportation capacity. Initially, service is intended to be offered between: Wallula and the Northwest Seaport Alliance on-dock facilities for dry imports and exports (in ISO equipment.) It will also support Union Pacific’s intermodal customers moving between Wallula and Chicago and beyond.

 

 

 

 

 

Jet Airways to Sell Netherlands Business to KLM

A Jet Airways vehicle leaves the company’s headquarters in Mumbai

BENGALURU (Reuters) – Bankrupt Indian airline Jet Airways Ltd said it had agreed to sell its assets in Netherlands to Dutch airline KLM.

If the deal is finalised, it will only involve a sale of part of the company’s business and not impact the shareholding pattern, Jet said in a statement dated Jan. 16. It did not detail the assets held in Netherlands.

Once India’s biggest private carrier, Jet stopped flying in April after running out of cash, leaving thousands without jobs and pushing up air fares across the country.

It was admitted to bankruptcy court in June after its lenders, led by State Bank of India SBI.NS, failed to agree on a revival plan.

KLM, a part of Air France KLM, was once codeshare partners with the defunct airline and in the wake of Jet’s collapse had added flights to India.

(Reporting by Chandini Monnappa in Bengaluru; Editing by Subhranshu Sahu and Anil D’Silva)