Air China is to divest its 51% stake in Air China Cargo.

According to Air China, the stake will be transferred to China National Aviation Capital Holding Co., Limited, a fully owned subsidiary of the China National Aviation Holding Company, at a price of approximately RMB2.4 billion (US$360 million).

CNAH is also a controlling shareholder of Air China Limited.

Air China Cargo was set up as a joint venture between Air China and Cathay Pacific in 2011, with Air China holding a 51% stake and Cathay holding 49%.

Air China Cargo currently operates three Boeing 747-400Fs, four 757-200Fs and eight 777Fs.

China Eastern Airlines divested 55% of its shares in its cargo subsidiary Eastern Air Logistics in June 2017.