Cathay Pacific and Air China completing paperwork for Air China Cargo
Cathay Pacific stated (09-Mar-2011) the authorities in mainland China have given formal approval for its cargo JV with Air China, and the airlines are now in the process of completing the necessary paperwork to enable operations to commence. An existing Air China subsidiary, Air China Cargo, will be used as the platform for the JV. Air China Cargo is based in Shanghai and is in a "good position to exploit the attractive air cargo opportunities in the Yangtze River Delta region", according to Cathay Pacific. Cathay Pacific is selling four B747-400BCFs and two spare engines to the JV. One of these aircraft has already been sold to Air China Cargo. The other three are expected to be sold in 2011 and 2012.