Cathay and Air China Cargo team up
16 / 07 / 2012
A NEW joint venture between Cathay Pacific and Air China Cargo will exploit China’s burgeoning manufacturing base in the Yangtze River Delta region.
The joint venture (JV), which received official government approval on 9 March, has not divulged a timeframe for operations.
“So far the process is well-managed,” John Slosar, chief operating officer of the group, said.
The Cathay Pacific Group, with a 49 per cent stake in the JV, is selling four Boeing 747-400BCFs and two spare engines to the project. One of these aircraft has already been sold to Air China Cargo, with the remainder expected to be delivered before the end of 2012.
With the new base in Shanghai, Cathay can carry goods from the delta to Hong Kong then deliver them to global destinations.