TT Logistics bet on customs-bonding trucking business

TT Logistics, part of the diversified TTK Group, is betting big in the customs-bonding trucking business as the firm recently signed agreements with six airlines, a top company official said today.

The city-headquartered company forayed into the customs-bonded trucking business last year with an investment of Rs 10 crore.

"Yes, it (the business) is going on well. We have signed with six airlines now," TT Logistics Managing Director Arun Vasu told PTI here today.

Vasu, whom said the company was building a warehouse station on the outskirts of the city, added the customs-bonded trucking business in the aviation sector was pegged at around Rs 120 crore in India and was annually growing at 10%.

In this entity, the logistics companies help airlines in fast moving of cargo from the airport to a warehouse which would simultaneously help customs officials verify the documents on time and avoid late payment charges.

This concept was practiced in the shipping sector and has now entered the aviation sector.

TT Logistics, also a General Sales Agency for British Airlines, would provide dedicated trucks on a commitment basis to handle all cargo, Vasu said.