Investment company Temasek Holdings and Singapore Airlines have joined hands with China Great Wall Industry Corporation to launch China's first joint-venture air cargo company.
The joint venture firm, Great Wall Airlines Company (GWA), is based in Shanghai's Pudong Airport and started inaugural flights on Thursday.
GWA has a registered capital of RMB1 billion - or nearly S$200 million - and a total investment of RMB1.2 billion.
China's civil aviation authority has approved three international freight routes for the carrier - from Shanghai to Amsterdam, Shanghai to Singapore and Shanghai to Mumbai or Chennai.
Temasek holds a 24 percent stake in GWA, while SIA Cargo has 25 percent.
The remaining stake is held by the Chinese partner.
22/06/06 Channel News Asia, Singapore
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Friday, June 23, 2006
Temasek, SIA join Chinese partner to launch air cargo company
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