Fortune shines on Yangtze River Express

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.

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