History
Established on 15 January 2003 as the second cargo airline in the country after China Cargo Airlines, it was majority owned by the Hainan Air Group (85%) with Hainan Airlines Co (5%) and Shanghai Airport Group (10%) holding the remaining shares. The airline took over the entire cargo operations of Hainan Airlines, China Xinhua Airlines, Chang'an Airlines and Shanxi Airlines, all members of the Hainan Air Group.
In 2006, it divested 49% of its shareholdings to a consortium of companies including China Airlines, Yang Ming Marine Transport Corporation, Wan Hai Lines and China Container Express Lines. China Airlines' became the largest foreign shareholder with a 25% stake.
Read more about this topic: Yangtze River Express
Famous quotes containing the word history:
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