Shenzhen Airlines CEO Li Kun was arrested Saturday for alleged financial irregularities, allowing Air China to deepen its involvement in the country's fifth-largest carrier through the appointment of Shenzhen vice chairman and former CA VP Fan Cheng as acting CEO. Li formerly was vice GM of China Southern Airlines and became CEO of ZH in 2005 following its privatization. Li Zeyuan, who outbid CA and purchased a 65% share of Shenzhen at that time, then was arrested under similar ...

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