Lufthansa Cargo express subsidiary time:matters and German state railway Deutsche Bahn haveextended their logistics cooperation agreement until 2010 and launched a new short-distance
service.The companies offer a same-day delivery service, marketed by Deutsche Bahn as ic:kurier,which operates from 140 rail stations in Germany and uses inter-city and EC trains.
A new short-distance service, costing EUR 56, has been introduced, guaranteeing deliverieswithin 200km in three hours.
“Both undertakings have worked together successfully in this area since 2003 and now want tocontinue this for another four years,” the companies said in a joint statement.
Three weeks ago, Lufthansa Cargo sold a majority stake in time:matters, to finance houseBuchanan Capital, in order to aid the express carrier’s expansion.
Since its spin-off from Lufthansa Cargo in 2002, time:matters has grown profitably, postingyearly revenue growth of more than 30%.
