China Southern and AF-KLM venture on hold
11 / 06 / 2009
CHINA Southern Airlines is delaying its airfreight joint venture with Air France-KLM’s Air Bleu. It is still unclear whether the plan will go ahead later.
The venture, which had been agreed last year would have lasted 30 years, with China Southern having a 75 per cent stake and Air Bleu having the remaining 25 per cent. The initial investment had not been decided.
The venture would have meant that China Southern had joined the other two main China carriers – China Eastern and Air China – with having an independent cargo subsidiary.
In April China Southern delayed delivery of 13 787s and five A380s until 2011 in an attempt to save US$1 billion.