China Airlines buys mainland air-cargo company
6 September 2005
Taiwan-based China Airlines has announced it will jointly buy a combined 37% stake in mainland Chinese air-cargo carrier Yangtze River Express Airlines with Taiwan's two major shipping companies, reported the Wall Street Journal. It will pay US$38.6 million for a 25% stake in YREA. China Airlines, the largest Taiwanese airline by revenue, has tried previously to enter China's cargo market but without success.
The lack of transport links between Taiwan and the mainland mean only a mainland carrier can give the airline good access to the mainland market.
