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SIA to tackle China Eastern's explosive growth - the next shoe to drop...

3-Sep-2007

Singapore Airlines (SIA) appears to have cut a very attractive

deal to access China’s surging passenger market. SIA’s long-awaited

agreement to acquire a strategic stake in China Eastern Airlines is priced at

HKD3.80 per share, just a 1.9% premium to the Shanghai-based carrier’s

last closing price back on 21-May-07. Since then, valuations of China Eastern’s

rivals have soared, with Air China’s shares up 56% and China Southern’s

more than doubling, up 121%. [383 words]

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