Air China and Cathay Pacific Airways are likely to sign an agreement on forming an air cargo joint venture soon.
"We have a team talking to Cathay, and it is likely that an agreement will be concluded soon," says an Air China spokeswoman.
She declines to be more specific with the timeline, except to say negotiation are progressing quickly.
A Cathay spokeswoman says talks are ongoing between the two airlines, but declines to comment further.
The two carriers first announced plans for a Shanghai-based joint venture in 2006, but have yet to sign a firm agreement.
Air China will own 51% of the joint venture and Cathay will hold the remaining 49%, the airlines said in 2006.
Air China holds a 30% stake in Cathay, while Cathay owns 18% of Air China.
Source: Air Transport Intelligence news
