HomeChina Stock News Shanghai Airlines denies plan of merger with Air China, China Eastern
Shanghai Airlines denies plan of merger with Air China, China Eastern
Written by Administrator
Monday, 17 September 2007
BEIJING, Sept. 13 (InfoChina) – Shanghai Airlines has no plan to let in any strategic investor for the time being and there is no possibility to merge with Air China or China Eastern (NYSE: CEA, HK: 0670, SH: 600115), Gu Jiadan, vice general manager of Shanghai Airlines was quoted by Shanghai Securities News as saying Thursday.
Gu made the remark in response to market hearsay on reshuffle of the country’s aviation industry and possible merger between Shanghai Airlines and China Eastern so as to build up their muscle on the Shanghai market.
Shanghai Airlines has business cooperation with Air China, but few with China Eastern, according to Gu.
However, he revealed that, Shanghai Airlines and China Eastern, as two carriers taking Shanghai as their base market, will consult with responsible governmental departments on building Shanghai into an international shipping hub. (Edited by Chen Dongyi,
)