Chengdu-based United Eagle Airlines, a privately held carrier, agreed to merge with Sichuan Airlines through the sale of a 56% stake for CNY200 million ($29.2 million). The deal comes days after another struggling private airline, East Star Airlines, rejected a purchase offer from Air China parent CNAC and was suspended by Chinese regulator CAAC (ATWOnline, March 17). Sichuan's stake in United Eagle has increased to 76%. Sichuan is controlled by the local government (40%) and China Southern ...

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.