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Dronamics set to become public company

Autonomous cargo aircraft developer Dronamics is set to become a publicly listed company through a $500m business combination with special purpose acquisition company GP-Act III Acquisition Corp (GPAT). The proposed transaction would see Dronamics listed on Nasdaq and provide funding to scale production of its Black Swan unmanned aircraft, accelerate commercial operations and support expansion into the US and other markets. Dronamics said the transaction had already been approved by the boards of both GPAT and Dronamics and was expected to close in the first half of 2027, subject to shareholder, regulatory and other approvals. Founded in 2014 and headquartered in Sofia, Bulgaria, Dronamics is Europe's first licensed cargo drone airline and holds international airline designator codes from IATA and the International Civil Aviation Organization (ICAO). The Black Swan is a long-range, fixed-wing NATO Class III unmanned aircraft designed to support a range of missions. Dronamics said it planned to operate the Black Swan between regional airports that are often underutilised. The company has a binding cooperation agreement with Hellmann Worldwide Logistics, under which the logistics company is intended to contribute at least 30% of Dronamics' global cargo capacity. Dronamics added that more than 730 Black Swan aircraft are estimated to be covered by various memorandums of understanding, letters of intent and term sheets with cargo partners. Co-founder and president of Dronamics, Svilen Rangelov said the proposed Nasdaq listing represented an important step in the company's development. "The signing of this business combination agreement represents an important milestone for Dronamics as we prepare for the next stage of our growth," he said. "We believe the Black Swan can create a new category in autonomous aviation by combining long-range capability, meaningful payload capacity and the potential for attractive operating economics across cargo logistics, national security and other mission-critical applications. "The proposed transaction with GPAT and a Nasdaq listing would support our plans to accelerate commercialisation, expand manufacturing capacity, and launch operations in the US and beyond." GP-Act III Acquisition Corp chief executive Antonio Bonchristiano said Dronamics had developed a differentiated large unmanned aircraft platform with opportunities across several markets. "Dronamics has developed a differentiated, large unmanned aircraft platform with applications across cargo logistics, defence and airborne surveying," he said. "Our conviction is grounded in the Black Swan's multi-role capabilities, the Company's relationships with established partners and the opportunity to scale the platform globally."

Atlas Air adds Incheon cargo terminal

Atlas Air Worldwide has opened a new cargo terminal at Incheon International (ICN) in partnership with Sharp Aviation K to cater for growth in its Asia business. The new Cargo Terminal 3 measures 19,320 sq m and adds 180,000 tons of annual handling capacity. The terminal will expand Atlas' pharma capabilities by adding a 2,900 sq m cool chain complex. The facility will be operated by Atlas Air Cargo Terminals (AACT), a joint venture between Atlas Air Worldwide and Sharp Aviation K. AACT, established by Atlas and Sharp in 2007, now operates three cargo terminals at Incheon, providing nearly 49,000 sq m of cargo infrastructure and annual handling capacity exceeding 460,000 tons. Atlas and Sharp are also advancing the development of Atlas Air Technical Services (AATS), a dedicated four-bay widebody maintenance facility at Incheon that is expected to become operational in 2027. The company said that the two projects would support its long-term growth and the evolving demands of the Asia Pacific air cargo market. Atlas Air Worldwide chief executive Michael Steen said: "Asia remains one of the most important regions for global trade, and our longstanding partnership with Sharp has enabled us to deliver high-quality ground handling services to our customers in Korea. "Through AACT, we've built a world-class cargo handling platform that continues to grow with the needs of our customers." The development of AATS will allow Atlas to insource approximately one-third of its heavy maintenance volume, to provide greater control over maintenance quality and turnaround times. "Together, these investments reflect our long-term commitment to the region and our focus on building the infrastructure and capabilities needed to support our customers' growth," added Steen.

Driverless trucking's carriers start to sign - next test: which signatures bind

A month after the debate started shifting from whether a truck can drive itself to whether the business can scale, carriers are committing to own driverless trucks themselves: Kodiak has a binding agreement for 75 trucks, Aurora non-binding plans covering 1,000. Turning those plans into trucks depends on production keeping pace, cash lasting until it does, and a per-mile split that rising driver pay and a pending federal rulebook are both beginning to reshape - my previous Driverless Trucking ...