Chengdu Airlines to be established on 22-Jan-2010

Chengdu Airlines, the airline arising from the restructuring of United Eagle Airlines, will be formally established on 22-Jan-2010, by which time United Eagle will cease trading (Sichuan Daily News, 18-Jan-2010). Commercial Aircraft Corporation of China (COMAC), Sichuan Airlines and Chengdu Communications Investment Group signed a cooperative agreement on 15-Oct-2009 on the equity restructuring of United Eagle, under which COMAC will hold a 47.96% stake, while Sichuan Airlines and Chengdu Communications Investment Group will hold 40.97% and 11.07% shares, respectively. Chengdu Airlines will focus on holiday destinations and feeder routes.