ASIAN PERSPECTIVE

摘要

YTO Express gets preliminary approval for air operations. The Civil Aviation Administration of China (CAAC) granted initial approval for the launch of service later this year by YTO Express Airlines from a base at Hangzhou Xiaoshan International Airport (HGH). The carrier will have registered capital of RMB 400 million (US$64.6 million), 90% of which will come from Shanghai-based YTO Express Group, with the other 10% coming from two individuals, Yu Huijiao and Zhang Xiaojuan. YTO Express Airlines is expected to start domestic and international operations with freighter-converted 737-300 and/or -400 aircraft (source unknown), building its fleet to fifteen units over the next three years. The new carrier will be led by Su Xiufeng, former CEO of Zheijian Loong Airlines. YTO says that while the bulk of its shipments move on the ground, it currently uses leased-in and charter lift to ship packages on 760 flights daily, to/from 76 airports. STO Express' similar application remains pending before the CAAC.