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China's tidal wave of reform


Singapore Airlines’ (SIA) "imminent" acquisition

of a strategic stake in China Eastern Airlines appears to near to fruition.

This is likely to be a phased agreement, based initially on codesharing and,

possibly, a financial injection. It is part of a massive shift under way in

China, following last year’s milestone Cathay Pacific-Air China cross

equity deal. [311 words]

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