Lufthansa Cargo has established a further joint venture company for the handling of airfreight in the North Chinese business metropolis of Tianjin with Tianjin Airport Hua Yu Air Cargo Terminal Co. Ltd. (HYACT) and thus strengthened its engagement in China.

The freight subsidiary of the Lufthansa Group has taken a 46 percent holding in HYACT, further partners are the Taiwanese investor Hwa-Hsia International Holding Ltd. (HHIH) with 49 percent as well as Tianjin Airport International Logistics Joint Stock Co. Ltd. (TAIL) with five percent.

Management of the new handling joint venture will be in the hands of Ulrich Huesson. He was previously Senior Manager Customer Relations and Operations at the International Cargo Centre Shenzhen (ICCS).

In an area of around 90,000 square metres, in spring 2008 Lufthansa Cargo, together with its partners, will start operations of a modern freight centre at the airport of Tianjin. With an annual capacity of approx. 360,000 tons, the centre will be characterized by the most advanced technology and security standards. Future growth can be accommodated in an expansion area of additionally 140,000 square metres.

"Tianjin will develop into the most important airfreight hub in the North of China within the next few years. With our new company, we will participate in the economic boom and secure our leading position in the growth market for logistical services", says Carsten Spohr, Chairman of the Executive Board of Lufthansa Cargo AG. Based on the previous successful joint ventures which Lufthansa Cargo has established in China, it has also been selected in Tianjin as a reliable partner.

The special economic zone of Tianjin, located close to the Chinese capital of Beijing, will in the future play a central role as an international airfreight hub. Up to now, the international airfreight of the region has for the most part been handled at Beijing Capital International Airport which, however, is reaching the limits of its capacity. At the latest with the start of the Olympic Summer Games 2008, it is planned to shift the handling of freighters to Tianjin.

Lufthansa Cargo is already represented in Shanghai with a 29-percent holding in Shanghai Pudong International Airport Cargo Terminal Co. Ltd. (PACTL), and in the International Cargo Centre Shenzhen (ICCS) in the southern Chinese Pearl River Delta with 50 percent. In addition, Jade Cargo International , in which Lufthansa has a stake of 25 percent, is serving important economic centres worldwide from Shenzhen with six 747-400 freighters.