Sichuan Airlines gains controlling holding in United Eagle Airlines
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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