Jade Cargo International (Shenzhen) will highly likely be liquidated after talks with Uni-top Airlines (Kunming Changshui) about a takeover of the financially struggling cargo carrier that has not flown its six B747-400(F) freighters since December have broken down. Uni-Top cited too much uncertainty about the commercial benefits of the acquisition as the major factor for abandoning the plan to take over the joint venture company originally set-up by Lufthansa (LH, Frankfurt International) and Shenzhen Airlines (ZH, Shenzhen).
Jade Cargo revival plans abandoned by Uni-Top
© Tis Meyer (PlanePics.org)