Three Boeing 747 cargo aeroplanes went up for auction on Alibaba's Taobao online platform the past two years, with Chinese logistics company SF Express buying two of them for a total of CNY320m ($48.3m) and the third going unsold. Over this week, six offline auctions failed to shift the aircraft; however, they were quickly bought once listed on the popular online platform. As we have highlighted, Alibaba has been moving into new areas of business over the past few months, such as buying up bricks-and-mortar retail shops.
Three Boeing 747 cargo aeroplanes went up for auction on Alibaba's Taobao online platform this week, with Chinese logistics company SF Express buying two of them for a total of CNY320m ($48.3m) and the third going unsold. Over the past two years, six offline auctions failed to shift the aircraft; however, they were quickly bought once listed on the popular online platform. As we have highlighted, Alibaba has been moving into new areas of business over the past few months, such as buying up bricks-and-mortar retail shops.