All systems go for Cathay Pacific – Air China cargo JV
China’s Ministry of Commerce has approved the air cargo joint venture between Cathay Pacific Airways and Air China Cargo. China’s National Development & Reform Commission (NDRC) approved the JV three months ago. The joint venture, which was announced in February, will create Air China Cargo (ACC), a wholly-owned subsidiary of Air China. Air China will hold a 51% stake in ACC, while the Cathay Pacific Group will own a 25% interest directly in ACC and will fund an offshore trust, in the form of a loan, to hold another 24% economic interest in the JV. Cathay Pacific will provide the JV with four Boeing 747-400 freighters. Quelle: eyefortransport |