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JDC-2005-11-NEWS APL ORDER
JDC-FLIGHT CREW AD 2010-10
Formed in 2004 and to start operations in 2006. Domestic, regional and international, cargo, jet airplane services.
6/F Shenzen Airlines Flight Operations Building
Bao'an International Airport
Shenzhen, Guangdong 518218, China
China (People's Republic of China) was established in 1949, it covers an area of 9,560,980 sq km, its population is 1,265 million, its capital city is Beijing, and its official language is Chinese.
October 2004: Lufthansa Cargo (LUB) and Shenzhen Airlines (SHZ) signed an agreement to establish a new cargo airline to be called Jade Cargo International (JDC) and based in Shenzhen. European investment institute DEG-Deutsche Investitions und Entwicklungsgesellschaft mbH is part of the joint venture. (SHZ) will have a 51% stake, (LUB) (25%), & DEG (24%). Will start operations in the Chinese new year 2005. Initially, (JDC) plans to operate 2 A300-600F's to cities within China and to India, Malaysia, Singapore, & Thailand. Service to destinations outside Asia could be launched later. Rudolf Tewes, General Manager, (JDC), stated the company will focus mainly in standard cargo business.
April 2005: Launch of Jade Cargo International (JDC), the joint cargo carrier between Lufthansa Cargo (LUB) and Shenzhen Airlines (SHZ) with 3 A300-600F's has been deferred until autumn.
September 2005: 6 orders (February 2006) 747-400ERF freighters.
October 2005: Jade Cargo International (JDC) plans to begin cargo operations in 2006. Along with destinations within China, the operator plans to serve additional Asian, European and American destinations.
December 2005: Liftoff for Jade Cargo International (JDC), an all-cargo joint venture between Lufthansa Cargo (LUB) and Shenzhen Airlines (SHZ) founded in October 2004, apparently has been pushed back again.
Jade (JDC) now will receive the first of six new 747-400ERFs in June 2006, six months later than initially announced, with the second and third set to join the Shenzen-based carrier in October and December next year.
"The other airplanes will arrive during 2007. First routes are intra-Asian services to Nagoya and destinations like South Korea and India," Lufthansa Cargo Executive Board Member Andreas Otto said. Jade (JDC) originally was expected to begin operations in the first quarter of this year.
Further expansion to Europe is expected with the introduction of the third airplane, with service to North America following after the fourth arrives. The airline is recruiting pilots.
At present, no other departure points in China are planned. Shenzhen Airlines (SHZ) has a 51% stake in Jade, with Lufthansa Cargo (DLH) holding 25%, the maximum for a single foreign investor in a joint venture of this kind. The remaining 24% is held by DEG, a subsidiary of KfW-Bank Group.
May 2006: Jade Cargo International (JDC) is to operate international, cargo jet airplane services.
Employees = 75 (including 2 Flight Crew (FC), & 20 Maintenance Technicians (MT)).
(IATA) Code: JI. (ICAO) Code: JAE (Callsign - JADE CARGO).
Parent organization/shareholders: Shenzhen Airlines (SHZ) (51%); Lufthansa Cargo (25%); & Deutsche Investitions Entwicklungsgesellschaft (24%).
Main Base: Shenzhen Baoan International Airport (SZX).
June 2006: Jade Cargo International (JDC) will begin operations at the beginning of August, immediately after taking delivery of its first 747-400ERF. It initially will serve Amsterdam and Seoul Incheon three times a week from its hub in Shenzhen. Its second 747-400ERF is due to arrive in November. It has ordered a total of six with deliveries through January 2008. "We will rapidly expand our route network and serve intra-Asian, European and American destinations. From the start, Jade Cargo (JDC) will assume a leading role in China's fast-growing air cargo market," Managing Director, Rudolf Tewes said in a statement. Jade (JDC) was founded as a joint venture among Shenzhen Airlines (51%), Lufthansa Cargo (25%) and DEG (24%). It currently has 120 employees.
Teledyne Controls announced that Jade Cargo International (JDC), ordered its integrated Data Management Unit for airplane condition monitoring and data recording on its new 747-400ERF fleet.
July 2006: Startup Jade Cargo International (JDC), in which Lufthansa Cargo (LUB) holds a 25% stake, will operate its first flight on August 8 from Shenzhen. (LUB) is studying how best to cooperate with Jade (JDC).
Lufthansa Technik (DLH) (LTK) and Jade Cargo International (JDC)signed two new contracts for Total Component Support and Total Engine Support for Jade (JDC)'s new fleet of six 747-400ERFs to be delivered through January 2008. The contracts are valued at more than $100 million.
747-4ERF (35170, B-2439), delivery.
November 2006: Jade Cargo International (JDC) will inaugurate cargo service from Shenzhen to Barcelona via Brescia and Osaka on November 24th. The airline will operate 3 flights a week using the soon to be delivered 2nd 747-4ERF.
2nd of 6 747-4EVERFs (35171, B-2440) delivery.
February 2007: 747-4EVERF (35172, B-2441), delivery.
June 2007: A contribution to China's May freight traffic was made by Jade Cargo International (JDC), owned by Lufthansa Cargo (LUB) and Shenzhen Airlines (SHZ). Jade (JDC)'s cargo traffic increased to 10,000 tonnes from 247 tonnes in the year-ago month.
747-4EVFER (35173, B-2422), delivery.
August 2007: While USA majors lobby and issue competing press releases touting their proposals to serve China under the expanded aviation agreement signed by the two countries, four small Chinese carriers have applied to the (CAAC) (CAC) for the right to operate transpacific services in a market traditionally dominated by the country's big three and their USA counterparts. Despite the fact that Chinese airlines have faced significant competitive disadvantages on routes to the USA, four carriers - - Shanghai Airlines (SHA) Cargo, Hainan Airlines (HNA), Jade Cargo International (JDC) and Great Wall Airlines (GWZ) - - plan to operate transpacific services, and each has received approval from the (CAAC) (CAC), according to a statement from the regulator.
Shanghai Airlines (SHA) is scheduled to fly from Pudong (PVG) to Los Angeles via Anchorage (ANC) beginning in September, and to Dallas/Fort Worth (DFW) via (ANC) from next April. Jade (JDC) intends to operate a Shenzhen - (PVG) - Portland, Oregon - (DFW) - Portland - (PVG) routing, and a Shenzhen- (ANC) - Chicago O'Hare (ORD) flight beginning this month.
In March, Great Wall (GWZ) expects to fly freighters to Los Angeles (LAX) and (ORD) via (PVG) - Seoul - (ANC) and beginning June 8, Hainan (HNA) will operate passenger flights between Beijing and Seattle. Hainan (HNA) never before has applied to serve the USA. It also has applied to serve Mexico City from Beijing (PEK) from March 30, and last month, it started flights to St Petersburg. The local analyst community has suggested that the carrier is expanding internationally to pave the way for the launch of Grand China Air.
The industry in China is hoping that the seven new cargo routes to the USA will help domestic airlines improve on the 30% market share they currently hold in the international freight market. The difficulties in competing for passenger traffic were highlighted by the lack of interest from Air China (BEJ), China Southern Airlines (GUN), and China Eastern Airlines (CEA) in increasing their transpacific operations. (BEJ) Public Relations Director, Wang Yongsheng confirmed that "in the short term, we won't apply for any new routes to the USA," as (BEJ) already serves (LAX), San Francisco and New York (JFK).
747-4EVFER (35169, B-2421), delivery.
December 2007: Jade Cargo International (JDC) named Lufthansa Cargo (LUB) Head of Transport Management & Flight Operations, Kay Kratky as its new General Manager. Claus Richter, who had been Head of Operational Support and acting leader of Flight Operations at Lufthansa (DLH)'s passenger division, will succeed Kratky.
January 2008: 747-4EVFER (35174, B-2423), delivery.
May 2008: Singapore-based dedicated freight carrier Jett8 Airlines Cargo (JT8) has agreed to wet-lease a 747-4EVERF (35174, B-2423 - - SEE ATTACHED PHOTO - - "JDC-JT8-747-4EVER-MAY08") freighter from China’s Jade Cargo International (JDC) for one year. Jade Cargo (JDC) says in a statement that the agreement was signed in the middle of May, and is subject to regulatory approval. If approved, the airplane will be operated on behalf of Jett8 (JT8), after Jade Cargo (JDC) has completed relief operations into Myanmar, where a cyclone hit recently, and the Chinese province of Sichuan, which was struck by an earthquake. “The airplane will be deployed by Jett8 Airlines Cargo (JT8) initially on routes from Singapore to Amsterdam, Malmoe, Bangalore, Chennai, and Hong Kong,” says Jade Cargo (JDC), which is a joint venture between Shenzhen Airlines (SHZ), Lufthansa Cargo (LUB), and German development bank (DEG).
Jade Cargo (JDC) has six 747-4EVERFs. Jett8 (JT8) launched services last year using 747-200Fs to destinations within Asia and to Europe and the Middle East.
April 2009: Shenzhen Airlines (SHZ) reported a first-quarter net profit of +CNY160 million owing to a strong rebound in the domestic market; the year-ago result was not available and the carrier did not disclose its first-quarter revenue, expenses, passenger or cargo traffic. Owing to double-digit growth in the domestic market, Chinese carriers posted a collective net profit for the quarter of +CNY1.78 billion, according to the (CAAC) (CAC).
(SHZ) achieved an annual profit of +CNY26 million in 2008 and expects to improve its financial performance this year as domestic demand continues to rise. In an effort to exploit that growth, it signed an agreement with the Chongqing municipal government to help construct a logistics hub for western China.
(SHZ) is expected to establish a branch company for its Jade Cargo International (JDC) subsidiary in Chongqing, from which it plans to open the first international cargo route in July. It will reconfigure some 737 passenger airplanes into freighters despite the fact that Chinese carriers are suffering from a continuing downturn in the cargo market. Freight volume hit a historic low of 264,334 tonnes in January, off -29% year-over-year.
July 2009: Austrian Airlines (AUL) Cargo signed a marketing agreement with Jade Cargo International (JDC), in which Lufthansa Cargo (LUB) holds 25%. (JDC) will operate twice-weekly, Incheon - Shanghai - Vienna (VIE) - Frankfurt - Incheon 747-400ERF flights. Jade Executive VP Sales & Marketing, Reto Hunziker said (JDC) wants "to develop (VIE) into a 'sub-hub' in our network" and plans to "connect other points in China" with (VIE) this year.
June 2010: Boeing (TBC) said Jade Cargo (JDC) selected its "Airplane Health Management" system to cover its fleet of six 747-400F freighters. (JDC) will incorporate all three modules of the solution, which assists airlines in managing unscheduled maintenance events, consisting of Real-Time Fault Management, Performance Monitoring and Custom Alerting and Analysis.
Jade Cargo International (JDC) is a joint venture airline operating a growing network of scheduled c argo services from Shenzhen to Amsrterdam; Baecelona; Brescia; Delhi; Dubai; Frankfurt; Istanbul; Kolkata; Lagos; Lahore; Luxembourg; Madras; Osaka; Seoul;; and Shanghai.
December 2010: Lufthansa (DLH)’s passenger airline division will be led by four new executives after a wide ranging leadership reshuffle early next year. (DLH)’s incoming CEO, Carsten Spohr appointed Thomas Kluehr, Kay Kratky and Jens Bischof as new members of the executive board, effective April 1, 2011. Kluehr will be in charge of the Munich hub and the point-to-point routes, while Kratky will take over Frankfurt and Flight Operations. Bischof takes over Sales.
Kluehr, 48, has been running the Munich hub in his last position and was also in charge of the "Climb 2011" project, which aims at cutting costs by -€1 billion/$1.332 billion by the end of 2011. One key element of the Climb effort is to turn around the unprofitable point-to-point operation, an issue that Kluehr will now be dealing with on a permanent basis in his new role.
Kratky started his career as a pilot (FC) at Lufthansa in 1979 and served in senior Flight Operations positions at Lufthansa Cargo (LUB) until 2008. He was then sent to Shenzhen, China, to turn around the group’s Chinese affiliate Jade Cargo as Managing Director. Bischof was charged with integrating Swiss International Air Lines (CSR) in 2005 and 2006 before moving to New York as head of the airline’s North
and South American Sales organization. The three are replacing Juergen Raps, who will retire as Head of Flight Operations next year when he reaches the mandatory retirement age of 60. Thierry Antinori, currently Head of Sales & Marketing, was promoted to CEO
of Austrian Airlines (AUL), while Karl-Ulrich Garnadt will become
CEO of Lufthansa Cargo (LUB). As part of the reorganization, Spohr is introducing an even more stringent separation of the Frankfurt and Munich divisions within Lufthansa (DLH). The two organizations will become effectively separate airlines with Corporate functions, staff,
infrastructure, Cabin and Flight Operations departments, as
well as Commercial functions. The two hubs will be positioned
as internal competition also for the group’s other carriers,
such as Austrian (AUL), Swiss (CSR) and Brussels Airlines (DAT)/(EBA).
April 2011: Jade Cargo (JDC) named Lufthansa Cargo (LUB) VP Margin Management, Frank Naeve its new CEO, replacing Kay Kratky. (JDC) pointed out that Naeve previously served as (LUB) General Manager Sales Greater Shanghai, giving him familiarity with the Chinese air cargo market.
November 2011: The Shenzhen Airlines (SHZ)-Lufthansa Cargo (LUB) joint venture (JV) Jade Cargo International (JDC) said it is seeking a capital injection of $50 million, funding that would "make us optimistic" (JDC) will become "a stable operation," (LUB) Chairman & CEO, Karl Ulrich Garnadt said. He warned that (JDC) "would not survive" a massive market downturn in its current fiscal state.
January 2012: Jade Cargo International (JDC) announced it has “temporarily suspended” all operations due to “overall weak demand.”
In a December 31 statement on its website, (JDC) said the suspension “will also provide the shareholders with an opportunity to coordinate with stakeholders to continue with the restructuring of the company’s financial structure.”
According to several German media outlets, (JDC) will ground its fleet of six 747-400ERF freighters and does not have enough money to buy fuel.
Jade (JDC), which was founded in October 2004 as a joint venture (JV) between Shenzhen Airlines (ZHZ) (51%), Lufthansa Cargo (LUB) (25%) and the German development finance institute (DEG) (24%), has faced continuous financial difficulties. According to reports, Air China (BEJ) (which took over (ZHZ)) is considering selling its 51% share.
(LUB) Chairman & CEO, Karl Ulrich Garnadt said in November that (JDC) "would not survive" a massive market downturn in its current fiscal state and was considering selling its holding.
February 2012: The fate of Jade Cargo International (JDC), a Lufthansa Cargo (LUB)/Shenzhen Airlines (ZHZ) joint venture (JV) that temporarily suspended operations on December 31, will be decided by the end of the first quarter.
(LUB) Chairman & (CEO) Karl-Ulrich Garnadt said that (JDC)’s air operator’s certificate (AOC) remains and all salaries for employees have been paid. He said (JDC)’s six 747-400Fs are on the ground and will be maintained. “This is the best thing we can do regarding that situation,” he said.
Garnadt said that (LUB) is trying to sell its shares, “but I cannot tell you how this will end.” He said that bankruptcy could not be ruled out.
(JDC), founded in October 2004 as a joint venture (JV) between (SHZ) (51%), (LUB) (25%) and German development finance institute (DEG) (24%), has faced continuous financial difficulties.
Garnadt said that cargo routes to Asia will remain the most important market for (LUB), as 50% of its business goes to Asia.
“Even we realized a drop in demand in markets like South Korea. In Hong Kong we saw a double-digit drop.” China has been affected, he said, “but in China there had been too much capacity.” Nevertheless, Garnadt said (LUB) has been able to increase sales from Europe to Asia by +22%. “This reduced some of the losses,” he said.
March 2012: Jade Cargo International (JDC) has signed a letter of intent (LOI) with China’s UniTop Group to restructure (JDC).
UniTop is a Chinese logistics enterprise founded in 1998 with a registered capital of CNY31 million/$4.9 million. It is expected the restructuring process will take two months to complete. In the meantime, (JDC) is preparing to resume operations with its fleet of six 747-400Fs.
“With this step, the restructuring of Jade Cargo (JDC) has taken a move forward, benefiting all stakeholders,” (JDC) said. (JDC), founded in October 2004, has faced continuous financial difficulties.
Industry analysts said it will not be easy for UniTop to help Jade Cargo (JDC) make a turnaround as the cargo market is still in a depression. China’s big three airlines have all suffered operating losses on the cargo side last year; this year’s predictions are not optimistic as cargo traffic continued to drop -28.7% in January compared to the same period last year.
Grandstar Cargo International Airlines (GSC), the joint venture launched by Sinotrans Air Transportation Development Company and Korean Air (KAL) in 2007, has also suspended operations January 1 and could face liquidation if it can’t find a proper suitor.
June 2012: Jade Cargo International (JDC) will highly likely be liquidated after talks with Uni-Top Airlines (UNT) about a takeover of the financially struggling cargo carrier that has not flown its six 747-400F freighters since December have broken down. Uni-Top (UNT) cited too much uncertainty about the commercial benefits of the acquisition as the major factor for abandoning the plan to take over the joint venture company originally set-up by Lufthansa Cargo (LUB) and Shenzhen Airlines (SHZ).
March 2013: The Sinotrans Air Transportation Development Company plans to transfer its 51% stake in Grandstar Cargo International Airlines (GSC) to China’s UniTop (UNT) as (GSC)’s liquidation process begins.
The financially troubled Grandstar Cargo (GSC), the joint venture (JV) launched by Sinotrans Air, Korean Air (KAL) and Hana Daetoo Securities in 2007, has suspended operations. Last year, it reported a net loss of -CNY244.75 million/-$39 million.
The UniTop Group (UNT), a Chinese logistics enterprise founded in 1998, stuck a restructuring deal with Jade Cargo (JDC) in March 2012. It later abandoned the plan owing to the “unpredictable” restructuring costs related to the disparity of the fleet of the two carriers.
September 2015: Jade Cargo International will auction three Boeing 747-400F freighters at a starting price of 1.32 billion yuan each on October 26, according to an announcement by Shenzhen Jiajintai Auction Company, Ltd on September 9.
The auction will take place at the Auction Hall of Shenzhen Auction Company, Ltd, on the 7th floor of Yinli Building, No 1, Road Hongli, Futian District, Shenzhen.
Jade Cargo (JDC) will start the bidding at 1.32 billion yuan for the three 747-400Fs (including 11 engines) (Registration (B-2421) (including 3 (GE) (CF6-80C2B5F engines), (B-2422) (including 4 (GE) (CF6-80C2B5F engines) and (B2423) (including 4 (GE) (CF6-80C2B5F) engines).
Jade Cargo(JDC) was established in October 2004 as a joint venture (JV) between Shenzhen Airlines (SHZ) (51%), Lufthansa (DLH) (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 (JDC) had faced continuous financial difficulties since its foundation. It flew its last scheduled flight on December 25, 2011 and grounded its fleet on December 31, 2011. The cargo carrier signed a Letter of Intent (LOI) with UniTop (UNT) on its restructuring in February 2012. However, UniTop (UNT) withdrew its (LOI) for the restructuring plans late in May 2012.