China Cargo Airlines returned to profit

China Cargo Airlines recently divulged that it has returned to profit last year with a new high since 2004 after recording loss in 2009, Xinhua reports.


But the carrier didn't give any details of its operating results.
The carrier also announced cooperation deal with domestic express company ZJS and Hong Kong's Kerry Logistics to complement each other in a network and client base to improve services.


Senior management of the carrier said that, being its major client, ZJS and Kerry Logistics have large client bases covering electronics, garments, pharmaceuticals and chemicals. Many of their clients are among world's top 500 enterprises.They also have an extensive network, freight stations and well-developed ground distribution services. The cooperation will optimise supply chain on the client end, helping the carrier develop customised services and will benefit the airline in developing a cargo hub based in Shanghai and integrating air and ground transport services.


China Cargo Airlines received an investment of CNY2.05 billion (US$311.7 million) from China Eastern Airlines, Cosco, SIA Cargo and Concord Pacific Limited in December last year and acquired Shanghai Airlines Cargo International and Great Wall Airlines, merging with China Eastern's cargo business. The merger enables China Cargo Airlines to have the largest freighter fleet of all domestic carriers.
(Source:http://www.transportweekly.com)