Wednesday, January 4, 2012

All Freight Air Carrier Jade Cargo Suspends Operations

Downturn in Asian Trade Blamed for Problems
Shipping News Feature

CHINA – Freight only carrier Jade Cargo has ceased operations until further notice whilst the company discusses financial restructuring with its stakeholders. The company blames overall weak air cargo demand and officially ceased all services on New Years Eve.

Jade Cargo has its headquarters in Shenzhen, Guangdong province and is a joint venture between Shenzhen Airlines (51%), Lufthansa Cargo AG (25%) and the German development and investment group DEG (24%) and has been operating cargo flights for a little over five years.

The company operated scheduled services between Shenzhen , Shanghai, Yantai Laishan (Shandong province), Chengdu Shuangliu (Sichuan province) and Schiphol, Frankfurt and Milan plus various ad hoc routes to India and the US and has carried project forwarding consignments with single items up to 46 tonnes.

Our article the day before the cessation of Jade services confirmed the downward trend of Asian airfreight in November with a 6.4% fall indicated by the latest IATA survey.