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Airline boss in plea for more airspace

China should open more airspace for domestic carriers to help them compete with the fast-growing high-speed railways and to increase efficiency, Liu Shaoyong, chairman of China Eastern Airlines, said Tuesday. High-speed railways will cover the most developed and populated areas ...

HK rapid transit railway's revenue up 6.6% in 2009

The Mass Transit Railway Corporation (MTRC) of Hong Kong saw 18.797 billion HK dollars in revenue last year, up 6.6 percent over the previous year, according to the financial results announced by MTRC on Tuesday. Fare revenue grew 0.3 percent to 11.498 billion HK dollars while ...

China Southern Airlines to raise 10.75 bln yuan

China Southern Airlines Co., the country's largest carrier, said it planned to raise no more than 10.75 billion yuan (1.57 billion U.S. dollars) through private issue of Shanghai and Hong Kong-listed shares. The sale of shares was to improve the company's capacities to cope with ...

China Eastern to operate direct flight from Nanjing to Singapore

China Eastern will start to operate a direct flight from east China's Nanjing, capital city of Jiangsu Province, to Singapore on March 20. The direct flight, to be undertaken by an airbus A319, No. MU771, will fly on every Monday, Thursday and Saturday. The flight will take off ...

China plans to buy 218 planes this year

China plans to buy 218 aircraft this year to meet the increasing demand, a senior official said on Sunday. The new orders will include jumbo jets and regional aircraft, said Li Jiaxiang, director of the Civil Aviation Administration of China (CAAC). China would expect 700 million ...

Shenzhen Airport says 2009 profits surged 135%

Shenzhen Airport Co., Ltd. in south China's Guangdong Province said net profits surged 134.92 percent year on year to 575 million yuan (84 million U.S. dollars) in 2009. Business revenue was 1.66 billion yuan last year, up 9.69 percent compared to the year before. Earnings per ...

Air China expects to fly into better financial performance in 2010

Air China's financial performance this year will be better than last year, its chairman Kong Dong said yesterday. The airline remains proactive regarding the possible acquisition of smaller rival Shenzhen Airlines, Chairman Kong Dong told reporters in Beijing on the sidelines of ...

China starts building railway into 'sea of death'

China began Wednesday to build a railway over the Lop Nur, a former lake that is known as "the sea of death," in northwestern Xinjiang Uygur Autonomous Region. Construction workers began building a 3-km railway bridge in Nanhu town of Hami City, the starting point of the 370-km ...

Majority stake in China's OK Airways changes hands

The majority shareholder of Okay Airways Co., China's first private airline, has changed ownership after a private logistics company took a 71.4-percent stake of the shareholder, the airline said Thursday. Wang Shusheng, chairman of Tianjin Datian W. Group Co., has taken over as ...

Train makers plug into JV for electric vehicles

China South Locomotive and Rolling Stock Corp, the nation's biggest train maker, said it would form a venture with a smaller Chinese auto maker, Liaoning Shuguang Automobile Group Co, to expand the electric car business in China. Times Electric Automobile, China South's ...

Direct cargo flights connect Taiwan and Jiangxi

Direct cargo flights will start to operate from Jiangxi Province on the Chinese mainland to Taiwan from Monday, cutting travel time from three days to 100 minutes, local authorities said yesterday. The weekly flight would link Changbei International Airport in Nanchang, the ...

China building world's largest high-speed rail network

China will expand its high-speed rail network to be the world's largest in coming three years with a total length of 13,000 kilometers, according to Thursday's China Securities Journal. By the end of 2012, China would have more than 110,000 kilometers of operational railways, ...

Shipping venture set up to ferry coal

China Shipping Development Co and Shenergy Co yesterday launched a joint venture shipping company for coal transport. Both sides will jointly inject 240 million yuan (US$35 million) in the joint venture, Shanghai Jiahe Shipping Co. China Shipping will own 51 percent and Shenergy ...

COSCO to increase US-Asia cargo rates

China COSCO Holdings Co and nine other shipping firms are planning to increase rates for hauling containers to Asia from the US in a bid to stem losses on transpacific routes. The new rates are expected to be effective from April 1 this year and are part of the Westbound ...

Chinese railway operator to float shares this year

China's Beijing-Shanghai High-Speed Railway Co., Ltd. would raise 30 to 50 billion yuan (4.4 to 7.3 billion U.S. dollars) through an initial public offering (IPO) this year, China Daily reported Monday. The newspaper says, quoting the Ministry of Railways, that the ministry, ...

Air China, Cathay Pacific join hands in cargo service

Air China Limited and Cathay Pacific Airways Limited signed a Framework Agreement Thursday to establish a jointly owned cargo airline. The two companies will use an existing cargo airline, Air China Cargo Co Ltd (ACC), a wholly owned subsidiary of Air China, as the platform for ...

China Express Air resumes half of flights

After being grounded for five days following a landing scare on Aug 28, China Express Air resumed half of its scheduled flights Monday, said airline executives. Flights within southwest China's Guizhou province, and some from southwest China's Chongqing municipality, were resumed ...

Air China adds more flights from Beijing to Vancouver

Air China said on Wednesday it would add three flights a week from Beijing to Vancouver, boosting the total number of non-stop flights from China to Canada to 10 a week. The additional flights will start operating in June, the national carrier said. David Solloway, Air China's ...

Innovation urged in shipping industry

After surpassing South Korea to become the world's largest shipbuilder by the volume of deadweight tonnage completed, China has no time to relish the achievement. Top on the agenda of the nation's shipbuilding industry is strengthening technological innovation and design ...

Shipping leasing deal worth US$1.2 bln

Grand China Logistics, a subsidiary of China's fourth-largest aviation group HNA Group, Thursday signed a US$1.2 billion shipping leasing contract with CDB Leasing in Shanghai. CDB, the country's largest financial leasing company by registered capital, will buy more than 20 large ...
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finance

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industry

sports

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