Jade Cargo International has announced a temporarily suspension of all operations due to weak demand. According to several media outlets, the airline will ground its fleet of six Boeing 747-400ER freighters as it does not have the money for fuel. Jade was founded in October 2004 as a joint venture between Air China through Shenzhen Airlines (51%), Lufthansa Cargo AG (25%) and the German development finance institute DEG (24%). Everything points to stakeholders trying to sell the business at this time. They may end up selling the assets alone.
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