Comments() 
Print 
Mail 
Large Medium SmallChina Eastern Airlines Co Ltd will make China United Airlines Co Ltd (CUA) its wholly owned subsidiary by acquiring the CUA shares it doesn't already own, China Eastern said on Aug 23.
The transfer price of the shares, 20 percent of the total, will be 83.95 million yuan ($13.22 million).
China Eastern currently is an 80 percent shareholder of CUA. Since May, the other 20 percent of CUA's shares was transferred from China Aviation Supplies Holding Co to China Eastern Air Holding Co, which is also a shareholder of China Eastern Airlines.
China Eastern Air Holding wants sell its shares to China Eastern Airlines, and the two parties signed an agreement on Wednesday to do so.
CUA is a civil commercial airlines based at Beijing Nanyuan Airport. The airline has 12 Boeing 737 aircraft and worked on freight and passenger transport between 50 cities in China as of June 2011.
According CUA's plan, the airlines will expand its fleet to 50 aircraft by 2015.
Modeling contest part of China-US exchange
Specially fertilized tea
Simulator to support A320neo commissioned
China's cultural sector sees steady growth in 2011
Travel chaos after snowstorm hits NE China
Inflation expected to rebound in November
Grain output grows for 9th consecutive year
White House-like buildings in E China cityCopyright 1995 - 2010 . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 20100000002731 
