Lufthansa Cargo partners in Tianjin airport cargo handling venture

Lufthansa Cargo partners in Tianjin airport cargo handling venture Lufthansa Cargo has taken a 46 percent holding in Tianjin Airport Hua Yu Air Cargo Terminal Co. Ltd. (HYACT) and with its partners will soon start operations at a 90,000-square-meter handling facility at the North China airport.
   The German airline’s other partners in the joint venture are Taiwanese investor Hwa-Hsia International Holding Ltd. (HHIH), which has a 49 percent share, and Tianjin Airport International Logistics Joint Stock Co. Ltd. (TAIL), which holds the remaining 5 percent.
   The Tianjin freight center is due to open in the spring with an annual capacity of about 360,000 tons. There is room for a further 140,000 square meters expansion. The site will be managed by Ulrich Huesson, previously senior manager of customer relations and operations at the International Cargo Center Shenzhen (ICCS), in which Lufthansa has a 50 percent interest.
   “Tianjin will develop into the most important air freight hub in the North of China within the next few years. With our new company, we will participate in the economic boom and secure our leading position in the growth market for logistical services,” said Carsten Spohr, Lufthansa Cargo’s chairman.
   Aside from ICCS and this new Tianjin venture, Lufthansa’s involvement in the Chinese market includes a 29 percent holding in Shanghai Pudong International Airport Cargo Terminal Co. Ltd. (PACTL), and a 25 percent stake in Jade Cargo International that operates out of Shenzhen with six 747-400 freighters.