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Lufthansa says its cargo unit has pumped new capital into China JV
Published: Aug 06, 2008 

Deutsche Lufthansa AG said its cargo unit has pumped in fresh capital into its joint venture unit Jade Cargo in China, confirming a Sueddeutsche Zeitung newspaper report.

A Lufthansa spokesman declined to provide details of its capital injection into Jade Cargo, which was formed in 2006 with a 25 percent stake from the German carrier.

Sueddeutsche Zeitung reported that last year, Lufthansa Cargo has injected a mid-range two-digit million euros to Jade Cargo.

The joint venture company is also owned 51 percent by China's Shenzhen Airlines and 24 percent by the DEG Deutsche Investitions-und Entwicklungsgesellschaft, a unit of German state-owned banking group KfW.

The Lufthansa spokesman said Jade Cargo's flights are expected to become profitable next year, adding that all six Jade aircraft are operational.

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