JV for Cathay and Air China?
Cathay Pacific and Air China are looking to set up a joint venture cargo airline based in Shanghai.
The proposal is part of several areas of planned co-operation between the two, linked to Cathay’s impending takeover deal of Draqonair, which involves an exchange of shareholdings between Air China and Cathay Pacific.
That deal is expected to be completed within the next few weeks after the shareholders of Air China, Cathay Pacific Airways, China National Aviation Company (CNAC) and CITIC Pacific last week approved the proposed shareholding realignment.
A spokeswoman for Cathay Pacific told IPW that all that remained was for several administrative details to be finalised.
Details of the cargo joint venture and other possible areas of co-operation could be decided only once the broader deal was completed, she said.
“That [cargo joint venture] is just at the concept stage. But it will be a joint venture cargo airline.