China Eastern Airlines seeking strategic investors; seeking to expand in the Middle East
China Eastern Air Holding Co CFO, Xu Zhao, stated China Eastern Airlines is seeking strategic investors in the Middle East, Singapore and Europe to acquire approximately a 20% stake in the company, although no specific parties were identified (Emirates Business 24/7, 25-Feb-2010). He added that the carrier is seeking to aggressively expand in the Middle East.
China Eastern Air Holding Co: "CEA holds open attitude towards all interested parties. But no formal talks with Singapore Airlines are on…Our strategy for growth is to look outside China and to expand internationally, especially in Middle East and Europe. We have aggressive plans for both the regions…We have big plans for the Middle East, and will invest in big planes for the region," Xu Zhao, CFO.