Category Archives: ACT Airlines

Cathay Pacific delays its first payment to HNA for HK Express

First Boeing 747 in the new 2018 livery

Cathay Pacific Airways has delayed its first payment to the HNA Group for its HK Express subsidiary.

According to the report by Forbes, the payment was held up due to a questionable purchase of three Boeing 747-400F freighters that have not yet been disposed.

HK Express leased two Boeing 747-400F freighters to ACT Airlines (top) and the third is operated by Suparna Airlines according to the report.

Read the full report.

Top Copyright Photo (all others by the airlines): ACT Airlines Boeing 747-428F ER TF-ACR (msn 32866) IST (Javier Rodriguez). Image: 943472.

ACT Airlines aircraft slide show:

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Bravia Capital and HNA Group acquire ACT Airlines, rebrand the company as MyCargo Airlines

Bravia Capital (Bravia), a private equity investor based in Hong Kong and HNA Group Company, Ltd. (HNA) of China, announced today that they have completed the acquisition of cargo carrier ACT Airlines (Istanbul). According to the announcement, “The transaction represents the strategic expansion of China’s global footprint into the high-growth marketplace of Turkey and surrounding regions, and allows Bravia and HNA to build a cargo platform to capitalize on the growing Eurasian cargo traffic.”

As a result of the acquisition, ACT Airlines has been rebranded and will now trade as MyCargo Airlines.

Copyright Photo: Rainer Bexten. Please click on the photo for the full details.

HNA Group of China to invest in ACT Airlines of Turkey

ACT Airlines (Istanbul) will soon have new investors as it plans to increase its freighter fleet. The HNA Group is planning to acquire a 49 percent share in the airline for $25 million and also add Boeing 747-400 and 767 freighters in Turkey. ACT Airlines will also change its name to MyCargo.

Read the full story from Bloomberg: CLICK HERE

Read a second report from the Daily News: CLICK HERE

Copyright Photo: Paul Denton. Please click on the photo for background information on ACT.

ACT Airlines Airbus A300 overshoots the runway at Bagram Air Base

ACT Airlines’ (Istanbul) Airbus A300B4-203 (F) freighter, registered TC-ACB (msn 121) operating for DHL Airways yesterday (March 1) overshot the runway at Bagram Air Base in Afghanistan, closing the runway. The left main gear reportedly failed on landing causing the engines to shear off.