Ctrip partners with China Eastern Airlines

Chinese travel booking site, Ctrip has announced a 3 billion CNY ($463 million) investment in China Eastern Airlines, which will consist of a private placement of shares. Ctrip has taken a board seat and plans to increase its shareholding over the next twelve months. The deal is part of a wider cooperation between Ctrip and the airline, which say they will team up on “low-cost transportation solutions, international air travel, IT technology, travel insurance, and e-commerce.”