Beijing (XFN-ASIA) - China's aviation regulator said it plans
to grant a domestic operating license to Chongqing Airlines, a joint venture
between China Southern Airlines and Chongqing Development & Investment Co
The regulator said in a statement that total investment in the venture is 1.2 bln yuan, with China Southern investing 720 mln yuan for a 60 pct stake.
Chongqing Development & Investment, a firm owned by the Chongqing municipal government will hold the remaining stake for 480 mln yuan.