Signs of life – Jade Cargo inks deal
08 / 06 / 2012
JADE Cargo could be back in the skies following the signing of a letter of intent with Chinese logistics enterprise UniTop Group.
Jade’s restructuring process is expected to take around two months, should financing be made available. The carrier is preparing to resume operations with its six 747-400Fs.
“With this step, the restructuring of Jade Cargo has taken a move forward, benefiting all stakeholders,” the carrier, a joint venture between Air China and Lufthansa Cargo, comments.
In January Lufthansa Cargo chief executive officer Karl Ulrich Garnadt told Air Cargo News it would “eventually step out of Jade”, following Jade’s cash-strapped operations and a lack of demand.