AUSTRALIA: Qantas involved in latest China carrier

A new Chinese airline took the first step to reality with the recent signing of the Jiangxi Fortune Airlines Limited Co-operation Agreement. The Jiangxi Fortune Airlines partnership includes as partners: international carrier Qantas Airways, Jiangxi Province Foreign Trade Assets Operation Co Ltd, JXABP Import& Export Co Ltd and the CDSR Group¨C a private investment company […]


A new Chinese airline took the first step to reality with the recent signing of the Jiangxi Fortune Airlines Limited Co-operation Agreement. The Jiangxi Fortune Airlines partnership includes as partners: international carrier Qantas Airways, Jiangxi Province Foreign Trade Assets Operation Co Ltd, JXABP Import& Export Co Ltd and the CDSR Group¨C a private investment company based inHong Kong.

The signing of the co-operation agreement will officially start the formal Airline Operating Certificate (AOC) application process with the Civil Aviation Authority of China. The establishment of an airline in Jiangxi is part of the Jiangxi Air-cargo Logistics Hub Project aimed at establishing Nanchang as a modern international logistics hub in the central China region.

The hub project is a partnership created in May 2007 between the Jiangxi Provincial Department of Foreign Trade & Economic Cooperation and the Hong Kong based CDSR Group. The scope of the agreement includes the establishment, investment and management of the new Nanchang Aircargo Terminal; ramp operations and management; trucking development and management; industrial and logistics park development and related commercial and industrial land use.

The Project is expected to be completed in several phases over a 10-year time frame. Total investment is estimated to be approximately RMB 1.5-2 billion (US$215-286 million).