The Civil Aviation Administration of China (CAAC) has approved the launch of Hangzhou-based CDI Cargo Airlines. It will initially acquire one Boeing 737-800 with plans to introduce two more of the type. The new cargo venture has a registered capital of CNY200 million ($31.8 million). Huixiang Industrial Investment Co., which invested CNY102 million, has a 51% ownership. Haofu Group holds a 24% stake, Asia Yingsheng Investment Co. holds 15% and Caulfield Investment Co. holds the remaining ...

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