Friday, May 29, 2015

New Chinese cargo carrier Ningxia Cargo Airlines gets green light

Ningxia Cargo Airlines has received approval from the Civil Aviation Administration of China for its launch.

The specific timetable for its formal launch remains to be decided. According to the regulator, the Yinchuan-based carrier has a registered capital of CNY120 million ($19.5 million). Shan’xi Tongyang Investment Management Company made an investment of CNY63.6 million to hold a 53% stake, while Xi’an Huijie Industrial and Trade Company invested CNY52.8 million for a 44% stake.

Shan’xi International Air Cargo Company, Chongda International Agency and Shan’xi Xiangyu Logistics hold the remaining 3% stake.

The new venture is expected to initially fly three Boeing 737-300 aircraft leased from Zhejiang Loong Airlines.

(Katie Cantle - ATWOnline News)

No comments: