Taiwan carrier China Airlines and two other firms have terminated their investment in a Chinese air cargo company. China Airlines has sold its 25% stake in Yangtze River Express Airlines, while Yang Ming Marine Transport sold its 12% stake and Wan Hai Lines sold its 6% holding. "We decided to pull out because of lackluster performance," said an official at China Airlines, which bought its stake in Yangtze River Express in 2006 for around RMB312.5 million (US$46 million). Founded in 2002, Yangtze River Express operates a fleet of 12 cargo planes. Despite the deficit recorded by the Chinese air cargo company, the three Taiwan investors will be able to recoup their original investments "in stages," according to filings to the Taiwan Stock Exchange. CapitalVue reports Taiwan businesses are among the biggest players on the mainland, with an estimated US$150 billion invested.
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