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
This content is restricted to site members.
If you are an existing user, please login below.
New users may register below.