SYDNEY—A proposed airfreight carrier partly owned by China’s YTO Express Airlines will proceed to the organization phase, a step toward beginning operations, following approval from the Civil Aviation Administration of China (CAAC). The Boeing 737 is the planned initial aircraft type, the CAAC said. The provincial government of Shaanxi will provide 80% of the capital of CNY1 billion ($146 million) through three of its companies, including its airport operator. YTO Express ...

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