Jade Cargo International suspends cargo operations

Jade Cargo International (Shenzhen) has suspended all cargo operations.

On December 31, 2011 the company issued the following short statement:

“The temporary suspension of Jade Cargo services is due to overall weak air cargo demand. It will also provide the shareholders with an opportunity to coordinate with stakeholders to continue with the restructuring of the company’s financial structure.”

Jade Cargo International was established in October 2004 and is co-owned by Shenzhen Airlines, which has a 51% stake, Lufthansa Cargo with 25% and DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, a subsidiary of the German state-owned bank KfW with 24% of the stock. Cargo operations commenced on August 5, 2006.

Copyright Photo: Keith Burton.

Jade Cargo Slide Show: CLICK HERE

Advertisements