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            may 26, 2018

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Luxembourg's Cargolux, Henan sign deal to create all-freight airline


Luxembourg's Cargolux and China's HNCA, the Henan Airport Group, and the Xinggang Investment Group have signed a joint venture equity contract establishing Henan Cargo Airlines that will operate under a Chinese air operator certificate (AOC), according to Shipping Gazette.
The first revenue flight is set to take place during the fourth quarter of 2018, reports New York's Air Cargo World.
At the signing in Beijing, Cargolux called the deal, a "major landmark and step forward in the launching of a resident cargo airline operating out of Zhenzhou under a Chinese AOC".
With the deal, Cargolux will hold the remaining 25 per cent of the airline. The remaining 75 per cent of the shares will be held by HNCA, the Henan Airport Group and the Xinggang Investment Group Company, which represents the Zhengzhou Airport Economic Zone).
As of June 2016, Cargolux said the joint venture airline would focus on transpacific and intra-Asia traffic with a fleet of 747-400Fs. At the time, the biggest delay seemed to be obtaining regulatory approval from the CAAC.
But, given China's State Council Premier, Li Keqiang and Luxembourg's Prime Minister Xavier Bettel were both present during the signing ceremony, it appears the airline now has Beijing's blessing.

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