The Civil Aviation Administration of China (CAAC) has approved the launch of AVIC Cargo Airlines, paving the way for the Chinese manufacturer’s sale of its MA600 freighter. Formal operations are expected to launch next year. AVIC’s new cargo venture has a registered capital of CNY500 million ($77.14 million). AVIC subsidiary Joy Air holds a 45% stake with an investment of CNY225 million, while Guangzhou Dongling Industrial Investment Co. (CNY175 million) and Beijing Fuda Capital ...

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