Shanghai Airlines denies merger with Air China, China Eastern - report
Beijing (XFN-ASIA) - Shanghai Airlines Co Ltd (SHA 600591)
has denied market rumors that it plans to merge with Air China Ltd (SHA 601111)
and China Eastern Airlines Corp Ltd (SHA 600115; HK 0670; NYSE CEA), the official
Shanghai Securities News reported, citing an official from Shanghai Airlines.
The newspaper quoted Gu Jiadan, deputy general manager of Shanghai Airlines, as saying that there are no plans to merge with the two other airlines and introduce strategic investors.
Shanghai Airlines will gradually expand some international routes in the next two years, Gu added, without providing details.