Suspension of flight operation with Jade Cargo

Chinese-German air cargo airline Jade Cargo searches for ways to recover ist capital structure:

The Shenzhen-based air cargo company Jade Cargo is making a compulsory stop of its flight operations. In a short letter the management confirms reports of German media about the temporary suspension of flight operations. Thereby the company intends to bridge the change of the year, as air cargo demand is traditionally weak during this time of the year. In addition they want to implement measures to restructure their capital resources, as the paper reads.

Among experts Jade Cargo is deemed to be undercapitalised. According to reports of a German newspaper the enterprise lacks of financial means to pay kerosene. However, according to company statements December salaries were paid to the employees.

The Jade Cargo brand stands for a Chinese-German joint enterprise. The airline was formed in 2004 by Shenzhen Airlines (51%), Lufthansa Cargo (25%) and DEG Deutsche Investitions- und Entwicklungsgesellschaft. The fleet comprises six freighters, type Boeing 747-400F, which are normally serving the following destinations in Europe: Amsterdam, Frankfurt, Istanbul, Luxemburg, Milan and Kaunas.

Meanwhile Shenzhen Airlines was taken over by Air China, which has its own air cargo business and tight relations to Cathay Paxific Airways. However, this might as well be a reason for Jade Cargo’s difficult situation.

Quelle: LogEastics
Portal: www.logistik-express.com