ALL-CARGO carrier Air Hong Kong is set for a full re-launch this summer. The overhaul includes a corporate identity change as its fleet is completely revamped and new routes are added. Chief operating officer Stanley Hui Hon-chung said the airline's livery and corporate identity would be changed once the carrier began taking delivery of three leased freighter aircraft from July. Mr Hui, who has held the top position since Cathay Pacific Airways bought a 75 per cent stake in the territory's only dedicated freight airline in 1994, said an in-house team was designing a new livery with help from Cathay. It would be finalised by the end of this month. 'This is about timing,' Mr Hui said. 'We have the newer aircraft coming and we want to project a new image that the forwarders and shippers know they can rely on. It's a re-launch.' Formed in 1986, Air Hong Kong turned its first profit only in the second half of last year under Cathay's supervision. The three Boeing 747-200s will replace its two unreliable jumbos. The aircraft were bought by Cathay from Brazilian carrier Varig in January and will be leased to Air Hong Kong for 15 years once they are converted from combined passenger and cargo carriers, known as Combis, to full freighters. Cathay has already taken delivery of one, with the next to be acquired this month and the third in May. Each will undergo a three-month conversion programme - the first part at Boeing's Wichita plant in the United States and the final stage at Hong Kong Aircraft Engineering Co's (Haeco) workshops - and will enter service in July, August and October. The first two will replace the airline's only two aircraft: one Boeing 747-100 Freighter and one 747-200 Freighter. They are due to be returned to US-based leasing company Polaris in June and March next year. The third aircraft to be leased from Cathay is part of the airline's expansion plan. Mr Hui said Air Hong Kong would soon be taking advantage of a new air service agreement between the territory and the US that opened up eight American gateways for cargo flights from the territory. He said the new routes would be announced by the end of this month and they would be 'complementary' to Cathay Pacific Cargo's new flights. 'It presents an important opportunity for Air Hong Kong to secure its long-term future,' Mr Hui said. Earlier this month Cathay began weekly cargo flights to Chicago's O'Hare and New York's JFK airports as extensions of its Hong Kong-Toronto freighter services. Mr Hui would not say which cities Air Hong Kong might serve, but that they would not be the same as Cathay's because of the Government's policy that allows only one Hong Kong airline to fly a specific route. Launched in 1986 by three local businessmen, Macau gambling and tourism magnate Stanley Ho and his related companies bought a stake in 1989. Cathay bought the company for a reported $200 million in mid-1994. That year it lost $74 million - its ninth consecutive year in the red. Sources said it was $40 million in the black last year.