Loading
22-Apr-2016 10:26 AM

China Eastern Airlines parent and Ctrip sign cooperation agreement, invest in China Eastern

China Eastern Airlines parent China Eastern Air Holding signed (21-Apr-2016) a strategic cooperation agreement with Ctrip International on 21-Apr-2016. According to the agreement, Ctrip has agreed to invest CNY3 billion (USD500 million) in China Eastern Airlines' A share through a private placement of shares. The online travel agent will also further increase its ownership stake in China Eastern to 10% in the next 12 months following the placement. In the long-term, China Eastern Air Holding and Ctrip will collaborate on a broad range of products and services such as low cost transportation solutions, international air travel, IT technology, travel insurance and e-commerce. Ctrip may be entitled to appoint an observer or a director to China Eastern's board of directors. Trading of China Eastern's shares in Hong Kong and Shanghai will resume at 09:00 on 22-Apr-2016. [more - original PR - Chinese] [more - original PR]

Want More News Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More