Jade Cargo International is very pleased to announce that a Letter of Intent covering the restructuring has been signed between our shareholders and the UniTop Group.

The UniTop Group, based in Shenzhen, is a fast growing and dynamic logistics and transportation company who is looking to strengthen their position in the international air cargo market. With this step, the restructuring of Jade Cargo has taken a positive step forward, benefiting all stakeholders. Further information will be provided in the short term.

In view of the ongoing discussions concerning the financial restructuring of Jade Cargo, our services will not restart effective 16^th of January, 2012 as planned. The new date for the recommencement of services will be informed as soon as possible.

The temporary suspension of Jade Cargo services is due to overall weak air cargo demand. It will also provide the shareholders with an opportunity to coordinate with stakeholders to continue with the restructuring of the company’s financial structure.

The carrier's limitation of liability, as far as the Montreal Convention 1999 applies, has been increased effective Dec 30th, 2009 from 17 to 19 SDR.

Read more: New air waybill conditions of Contract