Jade Cargo suspends operations

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Jade Cargo International announced it has “temporarily suspended” all operations due to “overall weak demand.”In a Dec. 31 statement on its website, Jade said the suspension “will also provide the shareholders with an opportunity to coordinate with stakeholders to continue with the restructuring of the company’s financial structure.”
According to several German media outlets, the airline will ground its fleet of six Boeing 747-400ER freighters and does not have enough money to buy fuel.
Jade, which was founded in October 2004 as a joint venture between Shenzhen Airlines (ZH) (51%), Lufthansa Cargo AG (25%) and the German development finance institute DEG (24%), has faced continuous financial difficulties. According to reports, Air China—which took over ZH—is considering selling its 51% share.
LH Cargo chairman and CEO Karl Ulrich Garnadt in November that Jade "would not survive" a massive market downturn in its current fiscal state and was considering selling its holding .
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OhanaUnited

Wow, that's a big problem. Wonder what will happen to other cargo airlines like Martinair, Polar Air Cargo, Kalitta Air, and Cargolux.

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至少5架JI停在PVG没钱加油回SZX

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