Tibet Air, a startup based at Lhasa Gonggar, yesterday was approved for launch by CAAC. The carrier is expected to base its fleet around the A319 or 737-700 and has registered capital of CNY280 million ($41 million), according to the regulator. Tibet Investment Co. holds 51%, Tibet Sanli Investment Co. 39% and Tibet Ruiyi Investment Co. 10%. China Eastern Airlines had planned to participate but withdrew after facing its own operating loss.

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