China Eastern Airlines has decided to sell its 5% stake in Xi’an-based regional carrier Joy Air at the price of CNY35 million ($5.5 million), due to Joy Air’s consecutive operating losses. According to a written statement released by Beijing Equity Exchange, Joy Air’s operating revenue was CNY175 million in 2014, but it reported an operating loss of CNY214 million and a net loss of CNY152 million in the same period. Its total assets were CNY966 million, but its total debts ...

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