China’s YTO Express has received approval from the Civil Aviation Administration of China (CAAC) to launch a cargo carrier in the fast-growing domestic express delivery market. According to CAAC, the new cargo venture has a registered capital of CNY400 million ($65 million). YTO Express holds 90% stakes with a CNY360 million investment, while Yu Huijiao and Zhang Xiaojuan each hold a 5% stake with a CNY20 million investment, respectively. The cargo airline is expected to be based at ...

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