The move is yet another setback for the Tianjin-based airline, which is desperately seeking to restart its passenger service before the Lunar New Year after a lack of cash and disputes between its investors forced its service suspension.
The suspension of Okay Air’s passenger flights in mid-December interrupted its cargo service, forcing FedEx to end the 21- month collaboration which had originally been set as a five-year deal under which Fedex would lease three Boeing 737 freighters from Okay Air.
FedEx has reportedly been paying about US$1.9 million a month to Okay Air.