China Eastern Airlines has become China’s first state-owned carrier to diversify ownership of a logistics subsidiary with the sale of a 55% stake to four investors and the subsidiary’s core employees. The Shanghai-based airline aims to compete with US-based cargo carriers such as FedEx, UPS and DHL. The China Eastern Group will hold a 45% stake in the logistics subsidiary, worth CNY1.8 billion ($270.9 million) in state-owned capital, and attract a CNY2.3 billion investment in ...

Subscribe to Access this Entire Article

"Printer-friendly" 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? ATWPlus@penton.com.

Already registered? here.