Cargolux has signed the contract establishing its joint venture airline which will fly under a Chinese air operator’s certificate.

The airline, which is to be called Henan Cargo Airlines, is 75%-owned by Henan Civil Aviation Development and Investment Co., Henan Airport Group Co., Ltd. and Xin Gang Investment & Development Co., Ltd., with the remaining 25% held by Cargolux.

The contract was signed at a ceremony in Beijing attended by Xavier Bettel, prime minister of Luxembourg, and Li Keqiang, premier of the State Council of the People’s Republic of China.

Henan Cargo Airlines is expected to focus on intra-Asia and trans-Pacific flights using a fleet of Boeing 747Fs.

The Cargolux board of directors approved a US$77 million for the Chinese JV in January 2016. Cargolux was originally to hold a 35% share in the new airline, with HNCA holding 49%, and Henan Airport Group and Xin Gang each holding 8%.

The first revenue flight is being planned for the fourth quarter of 2018, according to Cargolux.