YTO Cargo Airlines (YG, Hangzhou) has obtained tentative approval from the Civil Aviation Administration of China (CAAC) to proceed with its proposed operational launch due later this year. Backed by CNY400million (USD62.52million) in start-up funding, the carrier is backed by the Shanghai YTO Express Investment (Group) Co Ltd (90%) and two individuals.
The carrier is licensed to provide scheduled domestic and international air cargo services and will do so using an initial fleet of either B737-300(F)s or B737-400(F)s.
