{"id":7115,"date":"2019-12-26T12:40:20","date_gmt":"2019-12-26T18:40:20","guid":{"rendered":"http:\/\/planesintheair.com\/?p=7115"},"modified":"2019-12-26T12:40:20","modified_gmt":"2019-12-26T18:40:20","slug":"china-southern-air-holding-sets-up-one-billion-yuan-cargo-company","status":"publish","type":"post","link":"https:\/\/planesintheair.com\/?p=7115","title":{"rendered":"China Southern Air Holding Sets Up One Billion Yuan Cargo Company"},"content":{"rendered":"\n
\"\"
China Southern Airlines Airbus commercial passenger aircraft is pictured in Colomiers near Toulouse<\/figcaption><\/figure>\n\n\n\n

BEIJING (Reuters) – China Southern Air Holding, the parent of China Southern Airlines <ZNH<\/a>>, has set up a cargo company with registered capital of 1 billion yuan ($143 million), as it looks to consolidate its air cargo assets through state-led reforms.<\/p>\n\n\n\n

The move from December 24 was disclosed by a filing approved on the National Enterprise Credit Information Publicity System and comes as China prioritizes implementing mixed ownership reforms to revamp its bloated, debt-ridden state sector.<\/p>\n\n\n\n

China Southern is among 96 centrally owned companies supervised by the state assets regulator, the State-owned Assets Supervision and Administration Commission (SASAC).<\/p>\n\n\n\n

As such, China Southern Airlines would offload its old freight unit to the newly registered company, according to a statement from SASAC in October. The cargo company would also take over other air cargo assets under the parent company such as belly cargo services, cargo terminals and international logistics.<\/p>\n\n\n\n

The cargo business would be managed in a market-oriented way and would become a major source of profits, said the SASAC.<\/p>\n\n\n\n

The air cargo market, an economic bellwether linked to global trade, saw its traffic decline by 3.3% in 2019, the International Air Transport Association (IATA) said, driven by a tariff war between the United States and China.<\/p>\n\n\n\n

In 2017, China Eastern Air Holding <CEA<\/a>> sold almost half of its freight unit to four firms, while Air China <AIRYY<\/a>> last year offloaded a majority stake in its cargo arm in face of market uncertainties.<\/p>\n\n\n\n

($1 = 7.0016 Chinese yuan renminbi)<\/p>\n\n\n\n

(Reporting by Stella Qiu and Brenda Goh; Editing by Gareth Jones)<\/p>\n\n\n\n

\"\"<\/figure>\n","protected":false},"excerpt":{"rendered":"

China Southern Air Holding, the parent of China Southern Airlines , has set up a cargo company with registered capital of 1 billion yuan ($143 million), as it looks to consolidate its air cargo assets through state-led reforms.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8637,797,7890,89,5637,4552,6117,5992,2203,4957,5676,8651,6711,1397,868],"tags":[539,223,420,118,2819,9089,2345,160,728,9530,9527,2390,1293,446,655,9518,3417,2495,9521,786,2837,359,3031,2870,8406,9522,2479,199,9520,3103,1567,8635,5488,843,412,9529,7520,5620,9524,9523,9519,9517,1288,9525,9526,3248,987,9516,785,1634,3535,3076,1177,4065,9528,1691,1658,444,1564],"class_list":["post-7115","post","type-post","status-publish","format-standard","hentry","category-air-cargo-news","category-airline-news","category-asia-news","category-aviation-news","category-business-news","category-cargo-news","category-china-news","category-economic-news","category-finance-news","category-global-politics","category-international-news","category-joint-venture-news","category-shipping-news","category-stock-news","category-transportation-news","tag-air","tag-air-china","tag-airline","tag-airlines","tag-approved","tag-assets","tag-association","tag-aviation","tag-beijing","tag-bellwether","tag-belly","tag-capital","tag-cargo","tag-china","tag-company","tag-consolidate","tag-credit","tag-debt","tag-disclosed","tag-eastern","tag-economic","tag-enterprise","tag-filing","tag-holding","tag-iata","tag-implementing","tag-information","tag-international","tag-led","tag-logistics","tag-market","tag-mixed","tag-move","tag-national","tag-news","tag-oriented","tag-ownership","tag-parent","tag-prioritizes","tag-publicity","tag-reforms","tag-registered","tag-reuters","tag-ridden","tag-sasac","tag-sector","tag-services","tag-setup","tag-southern","tag-state","tag-statement","tag-states","tag-system","tag-tariff","tag-terminals","tag-transport","tag-transportation","tag-united","tag-war"],"_links":{"self":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/7115","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7115"}],"version-history":[{"count":1,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/7115\/revisions"}],"predecessor-version":[{"id":7118,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/7115\/revisions\/7118"}],"wp:attachment":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7115"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7115"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7115"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}