Air China and Cathay Pacific inject $320m into cargo venture

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Air China and Cathay Pacific have invested a further Rmb2bn ($320m) into their joint venture, Air China Cargo, to help the carrier change its fleet, cut operating costs and develop its relationship with China Postal Airlines. In a filing yesterday to the Hong Kong Stock Exchange, the carriers noted that Air China would invest Rmb1bn, Cathay Pacific China Cargo Holdings would put in RMB500m and subsidiary Fine Star would add Rmb480m. Air China Cargo recorded a loss of Rmb349m in ...