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China's Okay Airways to sell stakes to Korean Air, unnamed foreign firm

BEIJING (XFNews) - Okay Airways Co Ltd, China's first private airline, will sell a 25% stake to Korean Air Co, and a further 24% stake to an unnamed overseas firm, the Business News reported, citing Okay chairman Liu Jieying.

According to China's regulations, foreign investors in a Chinese airline can have a maximum combined stake of 49%, with no more than 25% for any individual investor.

The report said Korean Air is the world's largest air cargo carrier and has been flying routes in China for 10 years.