Air China and Cathay Pacific Airways jointly announced on March 30 to establish a ground handling joint venture in Shanghai. In partnership with Shanghai Airport Authority and Shanghai International Airport, the two carriers will offer handling services at Shanghai Pudong International Airport and Shanghai Hongqiao International Airport. Air China will hold a 24 percent stake in the new firm, while Cathay Pacific's wholly owned subsidiary Hong Kong Airport Services will take 25 percent. With registered capital of RMB360 million (approx $57 million), the joint venture will be 41 percent owned by Shanghai International Airport and 10 percent by Shanghai Airport Authority.
Copyright 2012 Chinese Business NewsAll Rights Reserved
