Chinese Air Cargo Carriers To Merge

China's three largest air cargo carriers will merge to form Asia's largest freight transport company, according to a senior official at the Civil Aviation Administration of China.

The three merging companies are Air China Cargo, China Cargo Airlines and China Southern Cargo, the official Xinhua news agency said, quoting deputy director Zhou Laizhen.

No timeline or valuation of the merger was provided.

Air China Cargo is a joint venture freight project between Air China and Cathay Pacific. It has registered capital of CNY3.24 billion yuan and over 4,200 employees, according to its website.

China Cargo Airlines is a venture between China Eastern and China Ocean Shipping. It has CNY950 million in registered capital, according to its website.