| China Southern's cargo JV to be delayed |
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issue time:2007-03-10 08:12
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Jan. 26, 2007 (China Knowledge) – China Southern Airlines has postponed plans to form a cargo joint venture with strategic foreign partners like Air France-KLM and other members from the Skyteam alliance till later this year.
Vice president and CFO, Xu Jiebo, said that some problems in negotiations slowed down the process. He declined to elaborate on the problems, adding that the base airport’s location is a hot topic. Xu forecast that the joint venture, in which China Southern will have a controlling stake, should be concluded within 2007.
The General Administration of Civil Aviation, the industry’s watchdog, expects cargo traffic in China to double within five years.
The fast-expanding air freight market, driven by the nation's trade momentum, has attracted foreign carriers like Lufthansa and Singapore Airlines to form joint ventures with domestic airliners.
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