History
Established on 15 January 2003 as the second cargo airline in the country after China Cargo Airlines, it was majority owned by the Hainan Air Group (85%) with Hainan Airlines Co (5%) and Shanghai Airport Group (10%) holding the remaining shares. The airline took over the entire cargo operations of Hainan Airlines, China Xinhua Airlines, Chang'an Airlines and Shanxi Airlines, all members of the Hainan Air Group.
In 2006, it divested 49% of its shareholdings to a consortium of companies including China Airlines, Yang Ming Marine Transport Corporation, Wan Hai Lines and China Container Express Lines. China Airlines' became the largest foreign shareholder with a 25% stake.
Read more about this topic: Yangtze River Express
Famous quotes containing the word history:
“We aspire to be something more than stupid and timid chattels, pretending to read history and our Bibles, but desecrating every house and every day we breathe in.”
—Henry David Thoreau (1817–1862)
“The History of the world is not the theatre of happiness. Periods of happiness are blank pages in it, for they are periods of harmony—periods when the antithesis is in abeyance.”
—Georg Wilhelm Friedrich Hegel (1770–1831)
“It takes a great deal of history to produce a little literature.”
—Henry James (1843–1916)