CHINA: Air China eager to set up Shanghai cargo carier
ChinaÃ¢â‚¬™s Air China is set to buy East Star Airline and also negotiating with Cathay Pacific and China Eastern subsidiary China Cargo Air to establish a joint venture cargo airline in Shanghai, according to a report in Chinastakes.com. Air China chairman Kong Dong, who also is general manager of Air China Group, Air ChinaÃ¢â‚¬™s parent […]
April 1, 2009
Air China chairman Kong Dong, who also is general manager of Air China Group, Air ChinaÃ¢â‚¬™s parent company, said the buyout deal – with the nine-plane, 10-route East Star Airline – would be finalised soon. East Star is believed to owe Hangzhou Xiaoshan Airport more than 3.8 million yuan (US$556,400).
Kong said Air China also wants to set up a cargo airline based in Shanghai and was talking with Cathay Pacific and China Cargo Airlines. Previously, China Eastern had expressed interest in setting up a cargo airline in Shanghai jointly with Cathay Pacific.