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CAAC Plans To Approve New Airlines
December 17, 2007 |
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The Civil Aviation Administration of China announced that they plan to approve a new airline company's foundation under the name of Uni-top.
The notice from CAAC says this new airline has RMB150 million registered capital and is invested jointly by Uni-top Logistic Company and Autel Intelligent Technology Company Limited. The latter has provided RMB135 million for 90% of the company and Autel has given RMB15 million for 10%.
Based at Wuhan Tianhe International Airport, the new company will focus on international and domestic aviation cargo transportation businesses as well as related agent services.
According to one of CAAC's previous notices, they will stop approving applications for new airline companies between now and 2010. But this new company's application had been proposed in advance, so CAAC says they can go ahead and approve it.
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