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          BIZCHINA> Top Biz News

          


          

          
          		

          

          


          

          


          

          



          

          


 

          


          


 

          


          

          


 

          



          China Eastern agrees to sell 35% of Joy Air
          


          (Agencies)
          
 Updated: 2009-02-26 18:59
          



 

          

          China Eastern has agreed to sell a 35 percent stake in regional carrier Joy Air Co Ltd to Aviation Industry Corp of China (AVIC), China Eastern Chairman Liu Shaoyong said on Thursday.
          


          

          

          


          


          


          


          


          


          


          Related readings:
          
          China Eastern agrees to sell 35% of Joy Air China Eastern shareholders approve $1b placement
          
          China Eastern agrees to sell 35% of Joy Air China Eastern to stem fuel hedging losses
          
China Eastern agrees to sell 35% of Joy Air China Eastern expects profit in 3 years
          
          China Eastern agrees to sell 35% of Joy Air China Eastern gets $1.46b credit line
          

          
          		

          
          

          
          		

          
          

          
          		

          
          

          

AVIC, a State-owned aircraft maker, owns a majority of Joy Air, which is capitalised at 1 billion yuan ($146.3 million), while China Eastern holds a 40 percent stake.
          


          Company sources had said China Eastern, one of the country's three biggest airlines, wanted to sell a roughly 30 percent stake in the regional carrier to bolster its strapped finances.
          


          Liu was talking to reporters after a shareholders meeting.
          


          

          (For more biz stories, please visit Industries)
          

          

          

 



 



          


          


 

          

          

          


          

          


 

          


          


 

          


          


 

          


          


          


 

          

          

          
          		

          

          








           
          


           
          



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