Okay Airways (BK, Tianjin), ABX Air (GB, Wilmington Air Park) parent firm Air Transport Services Group, Inc., Vipshop Holdings, an online discount retailer for brands in China, and several smaller Chinese firms have agreed to set up an Express Air Cargo Joint Venture to offer comprehensive air freight connectivity across China (including Hong Kong and Macau), Taiwan and other neighbouring countries.
Announced during the Fourth Annual China Air Finance Development Summit being held in Tianjin, United Star Express Airlines (Tianjin) will, pending government approval, commence operations in the middle of next year with an initial capitalization of CNY400 million (USD63 million).
The start-up will primarily cater to China's rapidly expanding express air cargo sector whose 30% year-on-year growth-rate has been driven by local and regional e-commerce demand.
United Star Express will provide third-party express and charter aircraft services between China and surrounding Asian regions to domestic and international express companies. It will also offer medium- and long-haul charter services to Europe and the Americas in the long term.
In terms of operations, the carrier plans to acquire its own AOC operating a fleet of six freighters including B737, B757-200PF, and B767 aircraft during its first year of operations.
As the carrier's largest shareholder firm, Okay Airlines' chairman Wang Shusheng has been appointed company chairman with ATSG's Chief Commercial Officer, Richard Corrado, to be vice-chairman.
