time:matters has continued to perform strongly with nine per cent revenue growth in 2016 to €70 million ($74.7 million).

Certain industry areas were particularly strong, with automotive up 92 per cent year-on-year, high-tech and semiconductors by 47 per cent and aviation and automotive by 44 per cent.

This year it launched airmates, a software-based platform for on-board courier services, and plans to further digitise its platform and increase its international reach.

Managing director, Franz-Joseph Miller says: “As a leading expert in Special Speed Logistics, we have greatly exceeded our growth targets for 2016 and will now focus fully in 2017 on further digitising our transport solutions and processes – always adapted to the needs of our customers, as ever.”

time:matters says it was extremely successful in incorporating other airlines into its network, adding Air France, TAP Portugal, Flybe, and Air Malta to its connections, and directly integrating United Airlines.

Lufthansa Cargo took complete control of time:matters in 2016 though it remains an independent concern, additional growth is expected from closer cooperation with the airline.