Air China and Cathay Pacific Airways yesterday signed a framework agreement in Beijing establishing a jointly owned, Shanghai-based cargo airline built on the assets of Air China Cargo. Air China 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, to hold an additional 24%. CX's total investment in the new venture will be CNY1.67 billion ($244.1 million). The airlines launched their cooperation in 2006 when they ...

Subscribe to Access this Entire Article

"Air China, Cathay sign cargo JV accord" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions?

Already registered? here.