China’s online travel agency (OTA) Ctrip has invested CNY3 billion ($463 million) in Shanghai-based China Eastern Group, parent of China Eastern Airlines (CEA). The strategic investment is an effort to boost the carrier’s direct sales and enhance its position in the travel chain. The private placement investment represents a 3% stake in the carrier. According to the agreement, “If Ctrip can raise its stakes of CEA to 5% in 12 months after the carrier completes its private ...

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