Jade Cargo International (Shenzhen) has closed its doors after the UniTop Group (Shenzhen) decided not to invest in the cargo airline.
The airline was a joint venture of Shenzhen Airlines (51%), Lufthansa Cargo (25%) and DEG (24%). None of the partners wanted to sink any further capital into the failed carrier.
Jade Cargo suspended operations on December 31, 2011.
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