The majority shareholder of Okay Airways Co., China’s first private airline, has changed ownership after a private logistics company took a 71.4-percent stake of the shareholder, the airline said Thursday.
Wang Shusheng, chairman of Tianjin Datian W. Group Co., has taken over as chairman and legal representative of Okay Airways from Wang Junjin, chairman of Juneyao [...]
Air China Ltd, the nation’s flag carrier, and Cathay Pacific Airways Ltd intend to sign an agreement to form an air-cargo venture before the end of the week, said three people familiar with the negotiations.
The deal will likely be confirmed during talks in Beijing over the next few days, the three said, while declining to [...]
Okay Airways, China’s first private air carrier, has received a written notice from regulators urging it to settle down its internal disputes, which may put flight safety at risk, as soon as possible, triggering rumors that the firm’s business could be suspended again, the Beijing-based Jinghua Times reported Wednesday.
The Tianjin-based airline halted passenger services on [...]
Foreign airlines from Asia to Scandinavia, from Australia to the United States are cutting flights or canceling routes to Shanghai and other Chinese cities as the global economic slowdown dampens passenger demand.
Carriers are adjusting their networks and focusing on profitable routes as a result of falling ticket sales, especially among business travelers, as a result [...]
Air China Ltd, sitting on about US$1 billion of fair-value fuel-hedging losses, said yesterday it will keep unprofitable contracts until prices increase.
“Cutting hedging positions means turning paper losses into real losses,” Board Secretary Huang Bin told Bloomberg News. “We will only make that move at an appropriate time.”
Tags: Air-China, Airways, China-Eastern-Airlines, Fuel
Cathay Pacific Airways Thursday released combined Cathay Pacific and Dragonair traffic figures for January 2009 that show an increase in the number of passengers together with another substantial fall in cargo and mail tonnage.
It is partly as a result of the Chinese New Year peak period, according the Cathay Pacific in a statement.
Tags: Airways, traffic
