Cathay, Air China JV delayed

CATHAY Pacific and Air China Cargo’s proposed cargo joint venture now looks to get the green light to start only at the start of 2011.

Tony Tyler (right), Cathay’s chief executive officer confirmed the delay but would not reveal either the reason for the delay or whether it would have any financial impact on the company.

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 edirectly and a further 24 per cent in the form of a loan.

Share this story

Related Topics

Latest news

AviaAM Leasing acquires B747-400F on behalf of Magma Aviation

AviaAM Leasing, part of the Avia Solutions Group, has purchased a Boeing 747-400F nose-loader freighter. The aircraft, which is part…

Read More

Share this story

Aerotranscargo appoints Air One Aviation as its GSA

All-cargo carrier Aerotranscargo (ATC) Moldova has named Air One Aviation as its GSA, effective from August 1. The partnership will…

Read More

Share this story

Chapman Freeborn appoints its first ever group director of sport

By Rachelle Harry

Airfreight charter specialist Chapman Freeborn has appointed Nick Lamb as its first ever group director of sport. Cricket enthusiast Lamb…

Read More

Share this story