Singapore Airlines to buy 25pc stake in China Eastern
Afp, Shanghai
Struggling China Eastern Airlines is set to sell a 25-percent stake to Singapore Airlines, getting a much needed lifeline as one of the world's top carriers gains access to the huge Chinese market. The deal is likely be worth around one billion dollars, the Caijing magazine reported on its website late Tuesday, giving the Singaporean carrier a key foothold in China, home to one of the biggest and fastest growing airline markets in the world. China Eastern will issue 2.045 billion new Hong Kong-listed H-shares at 3.88 Hong Kong (50 US centrs) to SIA, one of the world's top airlines, Caijing said.
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