Bloomberg also reported
 

Jade Cargo cease Ops
 

From the horse's mouth, Jade Cargo will cease operations as of January 16th. They are seeking to sell assets to British Airways.

Regards to all

Not sure what horse you're talking to, but you've got some dated and incorrect information. New schedules were just issued (Jan. 1) with departures starting out of SZX on the 16th. With regards to BA purchasing Jade, that seems implausible as they already have GSS operating on their behalf.

What's going on in Mather land China ...

Jade Cargo suspends operations | ATWOnline

is Jade just the beginning or an isolated case?

Dalian

Therefore hauling cargo in the holds of passenger aircraft as is standard practice. 3 737s is hardly competition for Jade, especially in Shenzen. Not to mention that Jade flies China-Europe.

To me, Dalian sounds like another regional China airline which will have no impact on Jade operations. Air China already has its own cargo project. I think the real issue is whether or not Jade can secure new capital to ensure continued ops. Again, 737-800s, and what little they can carry in the holds, are not competition for Jade or any other cargo only airline.

With the current economic drop and the two investing carriers already flying similar routes China/Europe etc why dilute already dropping yields. This could just be an easy option rather than making loses on every sector. When/if the economy picks up Jade with be back in the air. Thats the way i see it.

New schedules were issued Jan01, Feb01, Mar01, Apr01......
Guess what?????

Still grounded, no decisions, no reliable information, no $$$......

Very soon, no Pilots!

Not a lot of facts abound
 

I was told by a "reliable source" that the employees were paid their March salaries yesterday, about 9-10 days late.
I don't think the question is if if the airplanes will fly again, it is more a question of when. I can't imagine that 6 747-400ERF's that are practically new and registered in China will sit for too much longer. I am less sure that they will still bear the Jade logo.
It is my opinion only, that the transaction to transfer ownership of the company to Unitop has gotten bogged down in the details that were not spelled out in the MOU that was signed.
I was also told that a number of pilots have submitted resignations and either have or will be leaving soon. Given the difficulty of recruiting pilots to come to China, I suspect there are many other Chinese carriers hoping to recruit these pilots to join up.

Jade is all but dead at this point. The CEO has stopped paying the pilots. Pilots are jumping ship like flies. Sad end to a once great career.

Jade Cargo
 

All A/C still parked at PVG.

"great career" ???? You gotta be kidding..

When Lufty pulls the plug, the lights go out.:{

Didn't UniTop buy-out LH's share?

I thought the world was waiting for a decision from them whether they were going to operate the aircraft or consider other options.

The End
 

Looks like this is the end for Jade.



Jade Cargo may be liquidated as China

No option for Jade, they've filed for liquidation already and its bye bye to the operation...

Jade's 747-400 up for auction
 

Jade Cargo to Auction Three Boeing 747-400Fs on Oct. 26

makes you wonder if the asking price for planes that have been inactive for almost 4 years is realistic at almost USD 200 Million a piece.....


Jade Cargo International will auction three Boeing 747-400 freighters at a starting price of 1.32 billion yuan each on Oct. 26, according to an announcement by Shenzhen Jiajintai Auction Co., Ltd. on Sep. 9.

The auction will take place at Action Hall of Shenzhen Auction Co., Ltd., on the 7th floor of Yinli Building, No. 1, Road Hongli, Futian District, Shenzhen.

Jade Cargo will start the bidding at 1.32 billion yuan for the three 747-400Fs (including 11 engines) - Registration B-2421 (including 3 GE CF680C2B5F engines), B-2422 (including 4 GE CF680C2B5F engines) and B2423 (including 4 GE CF680C2B5F engines).

Jade Cargo was established in October 2004 as a joint venture between Shenzhen Airlines (51%), Lufthansa (25%) and German development finance institute DEG (24%), with its base at Shenzhen Bao'an International Airport (SZX). It officially announced the closure of the company and the start of liquidation proceedings effective June 4, 2012.

Jade Cargo had faced continuous financial difficulties since its foundation. It flew its last scheduled flight on Dec. 25, 2011 and grounded its fleet on Dec. 31, 2011. The cargo carrier signed a Letter of Intent (LOI) with UniTop on its restructuring in Feb. 2012. However, UniTop withdrew its LOI for the restructuring plans late in May 2012.

True, $200 million per aircraft is a lot of money, but don't forget that the 747F could potentially be a dying breed.

The last 747-8F's will be in final assembly soon, and with no new orders announced and an uncertain economy, could it be that Boeing might pull the plug on the entire 747 program and concentrate on the 777X and 787?

Second hand 747F's could become a rare and very sought-after aircraft for 747F carriers who want the capability for over-sized loads and want to keep fleet commonality.

Perhaps the Chinese can sell them to another European airline that wants to open up a joint venture in China? What could possibly go wrong? :rolleyes:

Jade Cargo Freighters to be Auctioned Next Month - CargoForwarder Global

:ouch: