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Jade Cargo International shuts down

13 June 2012
Jade Cargo International, China’s first air cargo joint venture, is to close down after financial restructuring negotiations failed, reported China Daily.

The Shenzhen-based carrier was co-established by Shenzhen Airlines, Lufthansa Cargo and the German finance institution DEG. It grounded its freighters in January because of weak demand.

Jade Cargo has a fleet of six 744-ERF freighter aircraft and served 21 international destinations from its hubs in Shenzhen, Shanghai and Tianjin.

     
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