Top Biz News

SF Express to enter air cargo industry

By Qiang Xiaoji (chinadaily.com.cn)
Updated: 2009-11-27 11:38

SF Express will soon become China's first private courier to enter the air cargo industry, the Oriental Morning Post reported.

The Civil Aviation Administration of China (CAAC) said in a statement posted on its website on Nov 24 that it will issue an air transport business license to Shunfeng Aviation Limited.

SF Express and Shenzhen Taihai Investment Company were given the approval by the CAAC to set up the air cargo venture in early February this year. Shunfeng Aviation, to be based at the Shenzhen Baoan International Airport, has a registered capital of 100 million yuan ($14.65 million), with Taihai holding a 75 percent stake.

The National Development Regulatory Commission (NDRC), China's top economic planning body, has given Shunfeng Aviation the green light to operate two Boeing B757-200s. The company's application for a third Boeing B757-200 has been approved by the CAAC and is awaiting approval from the NDRC.

Shunfeng's first cargo plane arrived at the Shenzhen Airport in mid-November and will be able to start operation by the end of this year, SF Express said. According to the plan, the company will enlarge its fleet to 30 Boeing freighters in ten years.