In recent years the Luxembourg cargo company has been bringing in less and less revenue in Champ Cargosystems--$31.6m in 2018, $16.6m in 2019, $5.8m in 2020--which originated when Cargolux split its IT division into a separate venture and provides IT solutions to the freight industry.

The 2020 annual report already indicated that Cargolux was exploring ways of ending its participation in the technology company. A move towards making that happen was accelerated at the end of last year.

After Cargolux sold its 49% stake in Champs Cargosystems, CEO Richard Forson and Maxime Strauss resigned as directors of the company. It is not out of the realms of possibility that Sita will sell the entire company, indicates freight and logistics media outlet The Loadstar.

Cargolux announced that it has chosen software solutions provider IBS Software to continue its digitalisation. “Cargolux is in the midst of a digital transformation and the implementation of iCargo as a next generation freight management system is another important step for us,” said Forson.

Launched in 2008, the technology has been implemented by most of the major air cargo groups, such as Lufthansa Cargo, Korean Air Cargo and Turkish Airlines Cargo, to name just a few of its 35 leading customers.

While Champ Cargosystems announced the launch of MarketAnalytics for over 200 airlines and more than 3,000 freight forwarders from its portfolio. 2020 was a less challenging year for cargo than for passenger transport, the company recorded revenues of $51m with a loss of nearly $11m.

Champ Cargosystems reduced its workforce by 10% last year.

This story was first published in French on . It has been translated and edited for Delano.