China’s Yuantong Express launches cargo carrier

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Another day, another new cargo carrier in China. Exports may have softened, but the domestic express market is looking sufficiently strong – an annual growth rate of more than 30% in the past five years – for new carriers to launch. Time will tell, however, how many will make it in the long run, and what consolidation there will be.

This time it’s the turn of Yuantong Express, one of the country’s largest express delivery companies, which received approval for an airline, YTO,  in June. Based in Hangzhou, south-west of Shanghai, it is operating three 737-300Fs to start with, the second two of which arrive in November and December. It has also signed a deal with Boeing for 737-800BCFs.