Lufthansa Cargo-Jade tie up for
India cargo business
12 June, 2007:
To bring cargo in and out of India,
Lufthansa Cargo AG is likely to rope
in the services of Chinese cargo
carrier Jade Airways through a tie-up.
According to reports quoting Lufthansa
Cargo officials, the airline is in
talks with China’s Jade Airways to fly
in cargo from Shanghai to India.
For Lufthansa Cargo, India is a key
air cargo market with a huge growth
potential. The airline major is
currently in parleys with different
airline companies in India to build up
cooperation in the air cargo business.
Lufthansa currently operates a fleet
of 19 of its own aircraft and has
several other freighters on charter,
sad a report. In 2006-07, the company
registered revenues of 2.84 million
euros and profits of 81 million euros.
The company works in partnership with
other cargo carriers, the report
Lufthansa believes that it would face
challenges with its infrastructural
bottlenecks and from this perspective
it feels that the Chinese market is
more experienced and matured. The
Chinese cargo airline, Jade Cargo
International, was founded in 2004 by
Lufthansa Cargo, which holds 25 per
cent operational equity stake in it.
Lufthansa is looking at exploring the
possibility of launching cargo
ground-handling operations in India in
partnership with other airlines. It is
also bullish on India's second-tier
cities where he believes there is huge
potential in terms of transporting
goods. Lufthansa is also looking
forward to the new airports that will
come up in Bangalore and Hyderabad
airports hoping that it act as major
cargo hubs for the company. Another
report said that it is also in talks
with Jet Airways to launch a
full-fledged cargo airline.