China Business

Jun 28, 2006

Great Wall cargo airline launched in Shanghai

SYDNEY - Great Wall Airlines, a joint venture freight airline set-up by China Great Wall Industry Corporation, Singapore Airlines Cargo Pte Ltd and Dahlia Investments Pte Ltd (a subsidiary of Temasek Holdings Pte Ltd), has been officially launched in Shanghai.

"For the Singapore Airlines Group, Great Wall Airlines is a significant commitment to directly participate in the further development of China's air cargo market. Today, China is already one of the most exciting air cargo markets in the world. But

despite its already significant size, the market continues to grow at rates envied by the rest of the world," said Chew Choon Seng, Chief Executive Officer of Singapore Airlines, in a statement.

The airline operates a six-times per week Shanghai-Amsterdam freighter service and will soon start flights to Singapore, Chennai and Mumbai. Based at Shanghai's Pudong Airport, Great Wall Airlines has a registered capital of 1 billion yuan (US$125 million). It is 51% owned by China Great Wall Industry Corporation, with Singapore Airlines Cargo holding a 25% stake and Dahlia Investments the remaining 24%.

(Asia Pulse)

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