JV
SF Express to enter air cargo industry
By 強曉霽 (chinadaily.com.cn)
Updated: 2009-11-27 11:38
SF Express will soon become China's first private courier?to enter the air cargo industry, the Oriental Morning Post reported.
Shunfeng Aviation, to be based at the Shenzhen Baoan International Airport, has a registered capital of 100 million yuan ($14.65 million). The company was co-funded by SF Express and Shenzhen Taihai Investment Company with Taihai holding a 75 percent stake.
The National Development Regulatory Commission (NDRC), China's top economic planning body, has given Shunfeng Aviation the green light to operate two Boeing B757-200s. The company's application for a third Boeing B757-200 has been approved by the CAAC and is awaiting approval from the NDRC.
Shunfeng's first cargo plane arrived at the Shenzhen Airport in mid-November and will be able to start operation by the end of this year, SF Express said. According to the plan, the company will enlarge its fleet to 30 Boeing freighters in ten years.
