Grandstar Cargo International Airlines began operations at the weekend with an inauguration flight from Tianjin to Frankfurt using a Boeing 747-400 freighter.
The new all-cargo carrier has entered the market at a turbulent time with sky-high oil prices hiking operating costs to difficult-to-sustain levels.
Grandstar was established in December as a joint venture cargo airline with stakes held by Sinotrans Air Transportation Development (51 percent), Korean Airlines (25 percent), Hana Capital (13 percent) and Shinhan Capital (11 percent).
CargonewsAsia
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