Sichuan Airlines gains controlling holding in United Eagle Airlines

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The ranks of Chinese private airlines is dwindling under the strain of the economic slowdown and credit crunch. United Eagle Airlines approved shareholder changes and a capital increase, enabling the struggling private Sichuan-based airline to receive a cash injection from state-owned Sichuan Airlines (Sichuan Airlines is 40% controlled by Sichuan Local government and 39% owned by China Southern Airlines).

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