China Eastern Airlines finalized a deal to acquire Shanghai Airlines for CNY9 billion ($1.32 billion) in an effort to gain control of the commercial air travel market in China's largest city. CEA said in a statement released yesterday that it will conduct the acquisition through a share swap of 1.3 China Eastern shares for each Shanghai Airlines share, a transaction that still requires the approval of both a shareholders' conference and relevant government organs. Both carriers resumed ...

Subscribe to Access this Entire Article

"China Eastern acquires Shanghai Airlines for $1.32 billion" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions?

Already registered? here.