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Okay crisis results in one-month shutdown
Published on: 2008-12-05
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Tianjin-based Okay Airways will shut down for one month owing to conflicts between airline management and controlling stakeholder Juneyao Group, ATW reported. The carrier will suspend operations from 15 December to 15 January, as instructed by CAAC, which will send staff to audit Okay's safety standards. It has delayed taking delivery of its second MA60. Juneyao, which controls 63% of Okay, said the airline will earn a profit from its cargo business this year but will continue to suffer losses on its passenger operation as the Chinese market continues to decline. Juneyao plans to merge Okay with its Shanghai-based Juneyao Airlines subsidiary.
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