China Eastern beefs up subsidiary airline

Victoria
By Victoria April 10, 2012 13:06

China Eastern beefs up subsidiary airline

China Eastern Airlines and the Wuhan government are providing an injection of capital into China Eastern Wuhan Airlines. Parent company China Eastern is investing CNY1.05 billion ($165.8 million) into its Wuhan subsidiary, while the government is putting in CNY700 million. The airline hopes the move will bolster its presence in central China.
China Eastern will remain the controlling stakeholder with 60% ownership, with local government holding 40%.
Wuhan Airlines will expand its fleet of 46 aircraft to 50 with proceeds from the investment.

Victoria
By Victoria April 10, 2012 13:06
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