Cathay Pacific 747-400F. Photo: By Rob Finlayson. China's Ministry of Commerce gave the green light for the air cargo joint venture between Air China and Cathay Pacific Airways, which is expected to launch by year end or early next year, according to CA Board Secretary Huang Bin. The JV, which was agreed to in February, will create Air China Cargo. CA will hold a 51% stake in the new carrier while Cathay will acquire a 25% stake and fund an offshore trust, in the form of a loan, ...

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