5-Mar-2010 11:31 AM

DTW Group acquires Juneyao Group's 45% stake in Okay Airways

Okay Airways announced DTW Group has acquired Juneyao Group’s 45% stake in the carrier for CNY200 million (Xinhua, 05-Mar-2010). DTW Group Chairman, Wang Shusheng, will replace Juneyao Group Chairman, Wang Junjin, as Chairman and legal representative of Okay Airways. In Feb-2006, Juneyao Group purchased a 71.43% stake in Okay Airways’ largest shareholder, Beijing Okay Investment Co, for a 45% indirect stake in the carrier. Okay Airways is scheduled to receive three to four B737-800 and two MA60 aircraft this year. The carrier will resume B737-800 all-cargo service and MA60 air cargo feeder operations in Apr-2010.