Aviation News
- Sinotrans, Korean Air's venture approved
Date: 3-Jul-2007 Sources: (Shenzhen Daily)
SINOTRANS Air Transportation Development Co. has won government approval to set up a US$65 million cargo venture with Korean Air Co. and two other partners.
The deal will give the South Korean company and Sinotrans Air, a subsidiary of top domestic logistics services provider Sinotrans (Group) Co., a foothold in the country's fast-growing air freight market, analysts say. Sinotrans will hold a 51 percent stake in the venture, with Korean Air holding 25 stake and the remainder shared by investment firms HanaCapital and Shihan Capital, the General Administration of Civil Aviation of China said in a statement yesterday.
Sponsor Results:
