|
Singapore-China Eastern alliance approved
POSTED: 9:30 a.m. EDT, September 1,2007
|
THE Chinese government has approved the long-awaited alliance between China Eastern Airlines and Singapore Airlines.
The two airlines will sign an agreement enabling Singapore Airlines to take a 15.8 per cent stake in the Chinese carrier. Singapore is backed by Temasek, which will take an 8.2 per cent stake.
It is thought their union will drive a merger between Air China and China Southern, currently being proposed by the government.
|
|
RELATED