Beijing regulator CAAC expected clear Ningxia Cargo Airlines for takeoff
2012 04 25
- Details
THE Civil Aviation Administration of China (CAAC) is expected to give its approval for the launch of Ningxia Cargo Airlines, the first cargo carrier based in western China.
The new cargo entity, based in the Ningxia Autonomous Region, has a registered capital of CNY120 million (US$18.98 million). Shanghai Chongda International Freight Co, which has a 40 per cent holding, is the major stakeholder, while Shanxi Tongyang Investment Management has a 25 per cent stake. The remaining shareholders are Shanxi Xiangyu Logistics Co, Xian Huijie Logistics Co, and Shanxi International Air Freight.
The new venture has a Boeing fleet of 737 and 747 freighters and it plans to use pilots and MRO professionals from Turkish Orex Orbit Express Airlines, reports the Maryland's Air Transport World.
Industry analysts said it will be difficult for Ningxia Cargo to make a profit initially because of the downturn in the air cargo industry and weak competitive position of domestic cargo carriers. FedEx, UPS and DHL, mainly in economically stronger eastern China, dominate China's air cargo market.
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