U.S. sanctions force shut down of Chinese-Singapore cargo airline

U.S. sanctions force shut down of Chinese-Singapore cargo airline    Great Wall Airlines, a start-up all-cargo joint venture between Singapore Airlines Cargo, China Great Wall Industry Corp. and Dahlia Investments Pte. Ltd, suspended operations today following a decision by the U.S. Treasury Department to impose sanctions on China Great Wall Industry Corp. and its subsidiaries.
   The Shanghai-based airline said it is in discussion with U.S. government officials to resolve the situation, which does not involve the airline.
   The decision by the Office of Foreign Assets Control prohibits American companies from providing technical support to Great Wall Airlines, forcing the airline to shut down.
   Great Wall said it is making arrangements to transfer booked cargo to other airlines.
   “The company regrets the impasse created by the imposition of the sanctions, and apologizes for the inconvenience to customers, shippers, forwarders and agents,” it said in a statement.
   Great Wall launched a six-times-weekly freighter service between Shanghai and Amsterdam on June 1. Last week the company opened a twice-weekly route between Shanghai and Mumbai and Chennai, India, using a Boeing 747-400.
   Singapore Airlines holds a 25 percent stake in Great Wall.