Cathay Pacific Airways and Air China have set up an air-cargo joint venture in China, according to a joint statement by the carriers on Thursday, finalising an agreement after discussions lasting nearly four years. The joint venture will be 51 per cent owned by Air China and make use of the mainland Chinese carrier's existing air-cargo unit, Air China Cargo, as a platform. Cathay will have a 25 per cent equity stake and an indirect 24 per cent stake through an offshore trust. The agreement will … [Read more...] about Cathay and Air China ink air cargo JV