Air China Cargo commences operations as JV carrier between Air China and Cathay
Air China Cargo (ACC) commenced operations as a joint venture cargo carrier between Air China Ltd and Cathay Pacific on 09-May-2011. The airline has its principal operating base in Shanghai and will soon have a fleet of 12 B747-400 freighter aircraft. Air China has a 51% equity interest in the new airline with Cathay Pacific holding a 25% equity interest. ACC launched service from Chengdu to Shanghai on 21-Apr-2011 with B747-400 aircraft. [more]
Cathay Pacific Group: “Choosing Shanghai as its principal operating base ensures that ACC is well positioned to capture business opportunities out of the Yangtze river delta, which accounts for two-thirds of China's air cargo business. In addition, the cargo belly space provided through Air China's extensive domestic and international passenger network will also provide string impetus to ACC's global business development,”. The Hindu Business Line, 09-May-2011.
“The make-up of the ACC board and management team is designed to take full advantage of the complementary strengths of the two companies. China’s continued economic growth has helped turn the country into one of the world’s fastest-growing air cargo markets. Faster fleet development has been enabled through the joint-venture, helping ACC to achieve economies of scale and consolidate its market position. In addition, the cargo belly space provided through Air China’s extensive domestic and international passenger network will also provide strong impetus to ACC’s global business development.” Source: IFW, 09-May-2011.