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.

Read the full report from China Daily: CLICK HERE

Copyright Photo: Gabor Hajdufi. 

Jade Cargo: