[photopress:Parchim.jpg,full,alignright]In late May, LinkGlobal Logistics bought Parchim Airport in Germany and this appeared extremely unusual and, looked at another way, the opening of a new investment chapter in Chinese aviation history.
Chairman of LinkGlobal Logistics Pang Yuliang, the main player, reported the deal for this airport, which has an annual capacity of 180,000 flights and can handle all kinds of civil aircraft.
It did not happen. The Ministry of Commerce has halted the transaction because the deal hasn’t been filed with relevant authorities which prevents LinkGlobal from completing the financial part of the deal.
Pang Yuliang is not making any comment. In China his logistics business currently covers more than 800 cities and extends to some 90 countries worldwide.
When the transaction to buy Parchim Airport was announced, Pang Yuliang said: ‘There will be no need for my fellow-villagers heading towards Germany to transfer in Beijing or Shanghai once a charter flight is organized.’
Pang moved his global logistics business from Beijing, Shanghai and Shenzhen to Zhengzhou, and invested RMB300 million ($39.2 million) in 2006 to set up an international logistics center. It provides global sea port, airport logistics, global express, bonded processing, and international trade services.
A banner in front of Pang’s company reads: ‘If you only have a hammer, you always see problems as nails.’
How that applies to the current problem with Parchim Airport is an interesting thought.
Source: China Daily