ALAN PEAT THE CHINESE air cargo carrier, Jade Cargo International (JCI), has just equipped itself with a fleet of six Boeing 747-400ER freighter aircraft – and will immediately assume a leading position in the Chinese air cargo industry, according to management. It is also the first cargo airline in China with foreign ownership – being co-owned by Shenzhen Airlines, which has a 51% stake, Lufthansa Cargo with 25% and its fellow German company, DEG, with 24%. Three of the six aircraft will be financed through a sale-and-leaseback with HSH Nordbank of Germany through its leasing subsidiary AGV. For the other three aircraft JCI is currently finalising the financing with a leading financial institution. Boeing will deliver the aircraft, which will be powered by General Electric CF6-80C2 engines, from 2006 to 2008, according to Dr. Rudolf Tewes, GM of Jade. “We plan to launch operations in mid-2006,” he said. “Our route network will encompass intra-Asian, European and American destinations.” JCI has its headquarters and main hub in the southern metropolis of Shenzhen, which is China’s fourth-largest airport.
