Cargolux and Chinese partners ink deal on all-freight airline

Cargolux, HNCA, the Henan Airport Group, and the Xinggang Investment Group Company signed a joint venture equity contract establishing Henan Cargo Airlines, a cargo airline that will operate under a Chinese air operator certificate (AOC). The first revenue flight is set to take place during the fourth quarter of 2018.

At the signing in Beijing today, Cargolux called the deal, “a major landmark and step forward in the launching of a resident cargo airline operating out of Zhenzhou under a Chinese AOC.”

Under the terms of the AOC, Cargolux will hold the remaining 25 percent of the airline. The remaining 75 percent of the shares will be held by HNCA, the Henan Airport Group and the Xinggang Investment Group Company (which company represents the Zhengzhou Airport Economic Zone).

As of June 2016, Cargolux said the jv airline would focus on trans-Pacific and intra-Asia traffic with a fleet of 747-400Fs. At the time, the biggest delay seemed to be obtaining regulatory approval from the CAAC. But, given China’s State Council Premier, Li Keqiang and Luxembourg’s Prime Minister Xavier Bettel were both present during the signing ceremony, it appears the airline now has Beijing’s blessing.

 

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