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
Air China Cargo
Air China gets government cash infusion
The Chinese government has approved a 1.5 billion yuan capital injection into Air China, which will give a push to the air cargo joint venture with Cathay Pacific Airways. The Beijing-based carrier - China's largest international carrier - will receive the funds from its controlling shareholder China National Aviation Holding Co. Air China will use the capital to acquire a minority interest in its cargo unit, Air China Cargo, the airline said in a statement. Launched in 2003, Air China Cargo … [Read more...] about Air China gets government cash infusion
Cathay Pacific Cargo meets challenges head-on
Responding to the rapidly changing market situation, Cathay Pacific’s strategy took into account variables such as fuel prices, fleet deployment and fluctuations in world trade patterns, all of which had shown a marked change globally over the past 12 months. The carrier’s response included capacity cuts, special leave schemes for staff , adjustment of frequencies, focusing on new markets and also included delaying a planned cargo terminal to cut costsamid the global … [Read more...] about Cathay Pacific Cargo meets challenges head-on
