The Civil Aviation Administration of China (CAAC) has approved an air operator’s certificate for Ningxia Cargo Airlines. The new carrier has a registered capital of CNY120 million ($19.6 million), in which Shan’xi Tongyang Investment Management Co. holds a 53% stake with an CNY63.6 million investment and Xi’an Huijie Industrial Logistics Co. holds a 44% stake with a CNY52.8 million investment. Three other companies hold the rest. The new venture is scheduled to launch in September, using three 737s bought from Zhejiang Loong Airlines.

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