China Eastern Airlines and Qantas are to set up a regional low-cost carrier, marking the first move by a big Chinese mainline airline into the growing but overcrowded low cost sector in South East Asia. China Eastern, China’s third-largest airline by market value, and Qantas will invest some $198 million over three years in the equal joint venture, which will start in mid 2013 with three A320s. If all goes to plan the fleet will expand to 18 aircraft by 2015. The new venture, called Jetstar Hong Kong, will meet China Eastern’s aspirations in the low-cost market while sharing the

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