China Eastern sells off China Cargo Airlines shares

Aircraft manufacturers Asia Pacific Airlines

February 17, 2017

China Eastern Airlines has sold its shareholding in loss-making freighter operator China Cargo Airlines.

The carrier has agreed to a deal to sell its 100 per cent shareholding to Eastern Logistics, which owns 83 per cent of China Cargo Airlines.

Eastern Logistics itself has been bought by Eastern Airlines Industry Investment Company, a wholly-owned subsidiary of China’s state-owned CEA Holdings, for RMB2.4 billion ($349 million).

China Eastern explains that the sale will allow it to focus on the passenger segment and as is currently the case, China Cargo Airlines will continue to manage belly space and freight operations on China Eastern’s passenger flights.

James Graham

James Graham is an award-winning transport media journalist with a long background in the commercial freight sector, including commercial aviation and the aviation supply chain. He was the initial Air Cargo Week journalist and retuned later for a stint as editor. He continues his association as editor of the monthly supplements. He has reported for the newspaper from global locations as well as the UK.