Fortune shines on Yangtze River Express
11 / 01 / 2009
FOLLOWING the news that FedEx has cancelled its contract with struggling Chinese airline, Okay Airways, comes news of its replacement.
FedEx is now to use Yangtze River Express, a cargo airline controlled by HNA Group, to run its domestic express air network.
Okay Airway’s month-long suspension of flights forced FedEx to end the five-year contract between the two carriers over three years early. Fedex had agreed to hire three Boeing 737 freighters from Okay in June 2007 for about US$1.9 million a month.