Cargolux Chinese JV finally emerges as "Henan Cargo"
This week (wk 24), Cargolux formally signed a joint venture equity contract pertaining to the establishment of a cargo airline in China which will operate under the auspices of a Chinese AOC.
75% of the JV shares will be held by HNCA, the Henan Airport Group and the Xinggang Investment Group Company (which represents Zhengzhou airport's economic zone). Cargolux will hold the remaining 25%.
Signed in Beijing in presence of Luxembourg's prime minister Xavier Bettel and China's state council premier Li Keqiang, the contract sets out the key terms and commitments of each party to the agreement.
The airline will be named Henan Cargo Airlines, and the first revenue flight is planned for Q4/2018. This breaking news complements an interview with the Cargolux president and CEO Richard Forson that you will find in today's ITJ 23-26/2017. (ah)