- Cold-storage packaging company Sonoco ThermoSafe, a unit of Sonoco Products ( NYSE: SON ), and American Airlines' ( NASDAQ: AAL ) cargo business have entered into a global partnership lease agreement.
- The agreement is for Sonoco ThermoSafe's Pegasus ULD passive temperature-controlled bulk shipping container, which will join American Airlines Cargo's fleet of container products in the coming months.
- AAL transports life sciences and healthcare shipments, including biologics, vaccines, and other time-critical medical cargo, many of which require temperature-sensitive shipping and handling, Sonoco ( SON ) said in a statement on Thursday.
- "We believe this global partnership will further strengthen our industry-certified cold-chain network and offer customers looking to transport temperature-sensitive shipments a new solution,” said Brian Hodges, head of customer insights and products at American Airlines Cargo.
- Shares of SON earlier closed -0.3% at $64, while AAL stock ended +0.5% at $13.96.
For further details see:
Sonoco ThermoSafe & American Airlines' cargo arm sign global master lease agreement