Flights through Chinese airspace are often dogged by severe turbulence and delays caused by inclement weather. Now, the commercial battle for control of that airspace looks like being just as stormy.
In the skies above Shanghai, an unprecedented dogfight may be about to break out. In the next few weeks, shareholders in China Eastern Airlines, China's third-biggest passenger carrier, will vote on a near-$1 billion deal to sell a 24 per cent stake to Singapore Airlines, the world's biggest airline by market value, and an investment vehicle of Temasek Holdings, the Singapore government investment agency. |
