Guangdong-based China Southern Airlines-owned, China Southern Air Holding, had been sketching out a plan to roll out an air cargo carrier company with registered asset of as little as ¥1 billion or $143 million, as the state-owned company seemed to be aiming at fortifying its air cargo carrier through state-asset backed reform.
In point of fact, latest move from China Southern Air Holding was brought into light on Thursday (December 26th), two days after the China Southern Airlines’ latest approach to set out an air cargo carrier through its China Southern Air Holding subsidiary was approved in the National Enterprise Credit Information Publicity System of China.
Besides, China Southern Airlines had been among the 96 centrally owned Chinese companies directly monitored by the state asset regulators alongside the state-owned Asset Supervision and Administration Commission (SASAC), while the debt-laded company’s latest move would shift its older freight carrier unit in to the newly formed air cargo carrier unit alongside the newly formed entity would operate in a more market-oriented way and would become a major source of profit for China Southern Airlines, the three-decade-old China’s state backed airlines employing more than 100,000 workers, an SASAC statement dated back to October this year had unveiled.
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