Cathay, Air China Cargo joint venture gets green light

LESS than a fortnight after Cathay Pacific’s chief executive officer, Tony Tyler (right), confirmed a delay in approval for Cathay and Air China Cargo’s proposed cargo joint venture, than chairman Christopher Pratt announces permission has been granted.

Speaking in Hong Kong at an industry event, Pratt said that operation would either commence on 1 December or 1 January, 2011.

Cathay had been hoping to start operations in the summer, but this was subsequently rescheduled for October.

Air China Cargo will form the basis of the new joint venture but remain a subsidiary of Air China. Air China will hold 51 per cent in it, with Cathay Pacific holding 25 per cent directly and a further 24 per cent in the form of a loan. Cathay will also sell four 747-400 freighters to the venture.
 

Share this story

Related Topics

Latest news

Wilson joins ASL in fleet role

By Damian Brett

ASL Aviation Holdings has appointed Fergus Wilson as ASL’s group fleet and leasing director. Wilson joins from from Aer Lingus…

Read More

Share this story

Celebi to launch mandatory truck slot booking in Frankfurt

By Damian Brett

Cargo handler Celebi will move to mandatory slot booking for trucks at its Frankfurt facility as it looks to meet…

Read More

Share this story

WorldACD: Air cargo sees “some kind of normality” in April

By Rachelle Harry

Global airfreight volumes and capacity were up in April 2021, the latest figures from analyst WorldACD, suggesting — as with March…

Read More

Share this story