The specific timetable for its formal launch remains to be decided. According to the regulator, the Yinchuan-based carrier has a registered capital of CNY120 million ($19.5 million). Shan’xi Tongyang Investment Management Company made an investment of CNY63.6 million to hold a 53% stake, while Xi’an Huijie Industrial and Trade Company invested CNY52.8 million for a 44% stake.
Shan’xi International Air Cargo Company, Chongda International Agency and Shan’xi Xiangyu Logistics hold the remaining 3% stake.
The new venture is expected to initially fly three Boeing 737-300 aircraft leased from Zhejiang Loong Airlines.
(Katie Cantle - ATWOnline News)
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