In a September 20 article from the Financial Times, author Andrew Yeh out of Beijing covers news of a new partnership between Korean Air and Sinotrans to form a new air cargo line:
Under the deal finalised in Beijing on Tuesday, Korean Air, the world’s largest commercial air cargo company, and a subsidiary of Sinotrans would invest $65m to launch a new cargo airline. The new venture will give Korean Air an important presence in the rapidly growing market following the collapse of its talks to take a large stake in Chinese start-up Okay Airways.
Despite a number of other deals occuring in the attractive Chinese market, Mr. Yeh notes that there are still risks in the still unsettled market environment:
It is not all plain sailing for overseas operators. A joint venture carrier set up by Singapore Airlines and local partner China Great Wall Industry halted flights in August after two months when Great Wall was hit with US sanctions for allegedly supplying missile parts to Iran.
For my previous posts on the air cargo market in China, take a look at this post titled "China Places Priority on Air Cargo."