newstodate.aero
Sep 19, 2006 (newstodate): Korean Air has further flexed its muscles in a new move towards the insatiable Chinese air cargo market.
The carrier has set up a JV cargo company with Sinotrans Air, a specialized subsidiary of Sinotrans, China's biggest logistics company.
Sinotrans Air's grip on the Chinese market, combined with Korean Air's global network will provide a strong foothold for Korean Air to expand in China, and between China and the rest of the world.
The contract term is 30 years, and the joint venture, led by a CEO and a CFO from Korean Air, will operate in Chinese domestic, international airfreight transportation and related businesses.
The new cargo JV company will start operations in China during the second half of next year with three freighters, eyeing its goal to become the China's top cargo carrier.
The carrier has set up a JV cargo company with Sinotrans Air, a specialized subsidiary of Sinotrans, China's biggest logistics company.
Sinotrans Air's grip on the Chinese market, combined with Korean Air's global network will provide a strong foothold for Korean Air to expand in China, and between China and the rest of the world.
The contract term is 30 years, and the joint venture, led by a CEO and a CFO from Korean Air, will operate in Chinese domestic, international airfreight transportation and related businesses.
The new cargo JV company will start operations in China during the second half of next year with three freighters, eyeing its goal to become the China's top cargo carrier.