China to merge 3 cargo air­lines: Xin­hua

The China Post - - WORLD BUSINESS -

China will merge its three big­gest freight air­lines and build the com­bined en­tity into Asia’s largest air cargo op­er­a­tor, a top avi­a­tion of­fi­cial was re­ported as say­ing.

“Cur­rently, this work (the merger) is be­ing ac­tively pushed,” the of­fi­cial Xin­hua News Agency quoted Zhou Laizhen, deputy chief of the Civil Avi­a­tion Ad­min­is­tra­tion of China (CAAC) as telling an in­dus­try fo­rum.

China’s top three cargo op­er­a­tors are the freight arm of Bei­jing-based flag car­rier Air China, Shang­haibased China Cargo Air­lines, and China South­ern Air­lines Cargo, head­quar­tered in the south­ern city of Guangzhou, said the re­port.

China has the world sec­ond’s largest air trans­port sys­tem but its cargo flight through­put grew just 7.8 per­cent last year to 135.6 mil­lion tonnes.

Ac­cord­ing to In­ter­na­tional Air Trans­port As­so­ci­a­tion sta­tis­tics, Asia’s big­gest cargo air­line by freight tonne kilo­me­ters in 2014 was Hong Kong-based Cathay Pa­cific, fol­lowed by Korean Air. World­wide they were num­ber two and three be­hind global leader Emi­rates.

“The value of China’s in­terna- tional air freight only ac­counted for 17 per­cent of its to­tal trade turnover in 2014,” CAAC chief Li Ji­ax­i­ang told the Wed­nes­day fo­rum, com­pared to a global fig­ure of 35 per­cent.

China’s im­ports slumped nearly 18 per­cent year-on-year in May, the sev­enth straight monthly de­cline, while ex­ports also dropped for the third con­sec­u­tive month.

Growth in the world’s sec­ond­largest econ­omy dropped to 7.4 per­cent in 2014, the slow­est pace in nearly a quar­ter of a cen­tury, and this year has seen few signs of any re­ver­sal in the slow­ing trend.

Newspapers in English

Newspapers from Taiwan

© PressReader. All rights reserved.