News / Air China Cargo plans IPO to raise funds to increase freighter fleet

Air China Cargo is planning a ¥12bn ($1.65bn) IPO on the Shenzhen Stock Exchange to expand its freighter fleet, among other plans.

The carrier’s cargo arm issued its listing prospectus on Wednesday, detailing plans to use ¥8.5bn ($1.17bn) of the proceeds to buy freighters and spare engines and to facilitate digitalisation. The remainder will be used as working capital.

Air China Cargo, which hass 12 freighters – nine B777Fs and three B747-400Fs – also carries belly cargo in all Air China passenger aircraft. ...