China Eastern Airlines, Singapore Airlines and others have agreed to combine cargo carriers at China’s largest air cargo port.
In addition to SIA and Pudong airport-based China Eastern, also associated with the plan is China Ocean Shipping Group and a unit of Eva Airways which will take part in the joint effort.
Together, they will create China Cargo Airlines via a combined investment of US$2 billion.
The service is aimed to commence before the start of the new year and will be major competitor to both Air China and Cathay Pacific.
CompareCar Hire UK reports that at the end of the year, China is likely to become the second-largest importer in the world in addition to being the world’s biggest exporter. Foreign trade in 2010 could total US$2.9 trillion.