Qantas, Thai forwarder form cargo airline

Qantas, Thai forwarder form cargo airline Australian airline Qantas Airways and CTI Holding, a Thai forwarding company, have agreed to form a joint venture cargo airline to be based in Bangkok.
   The new Asian airline, to be named Thai Air Cargo, will be 51 percent owned by CTI Holding and 49 percent owned by Qantas.
   It will primarily serve Asian sectors within five to six flying hours of Bangkok and operate MD11 freighter aircraft capable of carrying up to 86 tons of cargo.
   The new venture plans to initially target markets in Japan, China, India and Europe. Thai Air Cargo expects to operate its first flight in mid-2005.
   A team from Thai Air Cargo and Qantas will hold discussions with aircraft providers and recruit staff in the lead up to the first flight.