CAAC officially approved the launch of the Tianjin-based joint venture cargo airline to be owned and operated by Chinese logistics firm Sinotrans and Korean Air. The new entity has a registered capital of $65 million, in which Sinotrans Air Transportation Development Co. holds a 51% stake with an investment of $33.15 million. KE invested $16.25 million for a 25% stake. Minority shareholders are Hana Capital Co. (13%) and Shinhan Capital (11%). "So far we haven't figured out the specific ...

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