China Southern Airlines and Air France KLM have postponed their cargo joint venture, according to China Southern chairman Si Xianmin. “Based on the original plan, our cargo JV with AF KLM should have been launched in the first quarter. But we have to reconsider this plan after taking the current market situation into account,” Si said. China Southern signed a framework agreement with AF KLM in the middle of last year to launch a cargo joint venture in which the Guangzhou-based carrier would hold a 75 per cent stake. AE Cargo (Asia-Europe Cargo) was to develop a 10-aircraft fleet over the next two years with a hub based in either Guangzhou or Shenzhen.