28-Aug-2009 10:41 AM

Air China parent considering selling China Eastern stake

Air China Chairman, Kong Dong, stated its parent, China National Aviation Holding Co, may sell its HKD467 million (USD60 million) stake in China Eastern Airlines to focus on developing its own presence in Shanghai (Bloomberg/The Standard, 27-Aug-09). The shares (the company owns 12% of China Eastern’s Hong Kong listed shares) may be sold if the company can avoid making a loss on the agreement, with Mr Kong stating the parent company is “paying attention to the investment loss”.