Air China becomes majority shareholder in Shandong Airlines

Air China has become the majority shareholder in Shandong Airlines parent company after an equity purchase and capital injection. In a deal worth $4.77million Air China has brough the shares of two investors in Shandong Aviation Group (SAG), hansteel Financial Holdings, 1.4% and Qingdao Qifa 0.9%. With this deal, Air China now owns 66% of the company in addition to a 23% stake in the airline itself. The airline is owned by SAG (66%), Air China (23%), and 35% remains publicly traded, giving the flag carrier majority ownership. Post this, the airline has partnered with two more owners to invest