CHINA: China Southern may invest in Galaxy Airlines

China Southern Airlines may become the controlling shareholder of Tianjinbased Galaxy International Cargo Airlines (Galaxy Airlines), according to a report in the Economic Observer, citing an unnamed insider.


airlines China Galaxy invest Southern


China Southern Airlines may become the controlling shareholder of Tianjinbased Galaxy International Cargo Airlines (Galaxy Airlines), according to a report in the Economic Observer, citing an unnamed insider.

Galaxy Inte rnat ional Cargo Airlines was founded in December 2007 by Sinotrans Air Transportation Development in a joint venture with three South Korean companies led by Korean Air. Galaxy Airlines posted losses of 182 million yuan (US$28 million) in 2008, 94.32 million yuan in 2009 and 28.89 million yuan in 2010.