China Shipping looks to provide airfreight service
CHINA Shipping Group is hoping to expand its business into the sky, as the company is in discussions to buy a controlling stake in Yangtze River Express Airlines Co.
According to Xinhua, the Chinese shipping company wants to get involved in the airfreight market.
China Shipping's vice president Lin Jianqing said the company wants a controlling stake in Yangtze River Express and would look at setting up an airfreight forwarder to work together with the airline.
Mr Jianqing said China Shipping has been in talks with the airlines' parent company Hainan Airlines since last year.
China Shipping hopes the move would also expose it to high-end clients.
Shanghai-based cargo carrier Yangtze River Express is a subsidiary of Hainan Airlines Group Co, which also owns the country's fourth-largest carrier, Hainan Airlines Co.