Air, Business, Freight News, Logistics

‘Temporary halt’ for Jade Cargo

[ January 3, 2012   //   Chris ]

Far East carrier Jade Cargo services said it had “temporarily suspended” its operations on 31 December. It blamed overall weak air cargo demand. However, the suspension would “also provide the shareholders with an opportunity to coordinate with stakeholders to continue with the restructuring of the company’s financial structure”, it added in a press statement.
Jade Cargo started operations in 2006 as a joint venture between Shenzhen Airlines (51%), Lufthansa Cargo AG (25%) and the German development finance institute DEG (24%). Its fleet of currently a fleet of six B747-400ERFs is hubbed on Shenzhen and operated services to a range of worldwide destinations including Amsterdam, Frankfurt and Luxemburg.