China Eastern targets completion of Shanghai Airlines merger by year end

China Eastern Airlines GM Ma Xulun said he expects the carrier to complete its acquisition of Shanghai Airlines by year end. Last month CEA said it would acquire SAL through a share swap of 1.3 China Eastern shares for each Shanghai Airlines share (ATWOnline, July 14). SAL will become a wholly owned subsidiary of CEA but will keep its brand. CEA said it has submitted its acquisition application to CAAC and expects to get approval from the regulator this month. Also reviewing the transaction ...