Aviation Industry Corp. of China (AVIC) is set to launch a cargo carrier as it looks to gain sales of the MA600 turboprop freighter made by its subsidiary Xi’an, according to reports in China.
The new cargo venture has reportedly been granted an air operator certificate from the Civil Aviation Administration of China (CAAC). The airline is set to be based in the Chinese city of Guangzhou.
AVIC subsidiary Joy Air holds a 45 per cent stake while Guangzhou Dongling Industrial Investment has 35 per cent and Beijing Fuda Capital Management 20 per cent.
Reports claim AVIC wants to launch the cargo carrier to promote sales of the Xi’an MA600 freighter, which made its first flight in 2012, but has yet to gain any orders.