Cargolux inks new China airline JV agreement

Eleanor Steed
By Eleanor Steed June 14, 2017 17:31

Cargolux inks new China airline JV agreement

Cargolux has announced that the Joint Venture Equity Contract in respect of the establishment of a cargo airline which will operate under the auspices of a Chinese AOC has been signed.

Some 75% of the shares in this airline will be held by HNCA, the Henan Airport Group and the Xinggang Investment Group Company., Ltd (which company represents the Zhengzhou Airport Economic Zone). Cargolux will hold the remaining 25%.

The signing of the ‘Airline Equity Joint Venture Contract’ in Beijing, is described as a “major landmark and step forward in the launching of a resident cargo airline operating out of Zhenzhou under a Chinese AOC”, says Cargolux.

The signing ceremony took place in the presence of Luxembourg’s Prime Minister Xavier Bettel and The People’s Republic of China’s State Council Premier Li Keqiang in the legendary Great Hall of the People at Tiananmen Square

The contract sets out the key terms and commitments of each party to the agreement.
The name of the airline will be Henan Cargo Airlines with the first revenue flight being planned for the fourth quarter of 2018

Eleanor Steed
By Eleanor Steed June 14, 2017 17:31