Upon completion of the transaction

ACC began domestic and international operations in 2003 and is now the largest all-cargo airline in China. Its current business strength is focused on the northern China and Yangtze River Delta while Cathay Pacific's core business is the Pearl River Delta.,christian louboutin pas cher


Upon completion of the transaction, ACC will continue to be a subsidiary of Air China while the later will held a decreased 51 percent equity in ACC. Cathay Pacific Group will acquire 25 percent of equity interests directly and another 24 percent of economic interest by funding an offshore trust in the form of loan. A total value of 1,Louboutin chaussure pas cher,669 billion yuan will be invested in the joint venture and four freighters and two spare engines will be sold to ACC by Cathy Pacific Group.
Air China and Cathay Pacific has firstly cleared their intention to set up a joint venture early on Jun.8,doudoune moncler, 2006, when establishing cross-shareholding strategic relationship and signing an operating agreement at the same time.
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Air China is the second largest shareholders of Cathay Pacific,louboutin, with 29.99 percent equity and the latter is holding 18.1 percent equity in Air China.
The statements also mentioned that after the approval of the relevant authorities and the respective shareholders of Air China and Cathay Pacific, ACC plans to commence operations in the summer of 2010,moncler quciny, with Beijing and Shanghai remaining its main operating bases.
Air China Ltd. and Cathay Pacific Airways Ltd. have signed a Framework Agreement to set up an air-cargo joint venture in Beijing, China, according to a joint statement by the carriers on Feb.25. Air China Cargo Co.,moncler quincy, Ltd., (ACC) a wholly-owned subsidiary of Air China will be used as the platform for the joint venture.
Mr. Huang Bin,Louboutin chaussure, Secretary of the board in Air China Ltd. considered it as a complex deal due to the difference in laws and regulatory systems of both parties,louboutin pas cher, but with no further explanation, when interviewed by CAJING Magazine.

Air China Ltd. and Cathay Pacific Airways Ltd. have signed a Framework Agreement to set up an air-cargo joint venture in Beijing



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