China Eastern goes ahead with Shanghai Airlines Merger
Published:
2009-07-13
China Eastern Airlines, the least profitable of China's three major airlines, offered about 9 billion yuan in a share swap for control of the smaller Shanghai Airlines. The moves raises Eastern's market share in Shanghai from 30 to 50%. Trading in the two companies' shares, which had been suspended since June 8 when the merger was first announced, resumed in Shanghai today. Shanghai Airlines will retain its brand and independent operation but will become a wholly-owned subsidiary of China Eastern.
Source: Jiefang Daily
Source: Jiefang Daily
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