Air China Cargo 747-400F. Photo: By Rob Finlayson. Air China and Cathay Pacific Airways formally launched their joint venture cargo operation on Wednesday, consolidating the two carriers' airfreight divisions. The JV, called Air China Cargo, received Chinese government approval last year (ATW Daily News, Dec. 2, 2010). CA holds a 29.99% stake in CX. CA owns a 51% stake in the consolidated cargo carrier while CX holds 25% and also funded an offshore trust through a loan that ...

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