The story
Shanghai Airlines and EVA Air launched Shanghai Airlines Cargo in June 2006 as a joint venture. It was set up with a starting operating capital of ¥120 million (US$17,269,529). Two additional investments brought the operating capital to ¥464 million (US$66,775,513) by 2008. The airline was headquartered at Shanghai Pudong International Airport. The airline had Asian, European, and American customers. In 2009, it had a Boeing 747-200F it had rented from China Southern Airlines and three McDonnell Douglas MD-11Fs. In 2010, China Eastern Airlines said it intended to consolidate three companies into a new air freight carrier: China Cargo Airlines, Great Wall Airlines, and Shanghai Airlines Cargo. The merger completed in December 2010.
From Wikipedia’s article on Shanghai Airlines Cargo, shared under CC BY-SA 4.0.3