Cathay and Air China to form JV

CATHAY Pacific and Air China are to set up a cargo joint venture based out of Shanghai. The venture will allow the two carriers, which are trying to cement their recently increased cross-shareholding, to compete more effectively with China Eastern.

Air China’s vice-president, Fan Cheng, said: “Asset evaluation for the joint cargo company with Cathay is nearing an end, and we are now in advanced discussions on the operation and development of the venture.”

He did not reveal the size of the planned company’s fleet but it is expected to launch later this year.

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