Lufthansa Cargo has established a new joint venture company, Hua Yu Air Cargo Terminal Co Ltd., in the northern city of Tianjin. Lufthansa Cargo will hold 46 per cent of the JV, with Taiwan’s Hwa-Hsia International holding 49 per cent, and Tianjin Airport International Logistics Joint Stock Co. taking the remaining five per cent.
The JV’s 90,000 sq. m. freight centre at Tianjin airport will have an
annual capacity of 360,000 tonnes, and operations are scheduled to
begin in Spring 2008.
“Tianjin will develop into the most important airfreight hub in the
North of China within the next few years,” says Carsten Spohr,Cchairman
of Lufthansa Cargo.
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