Aviation News
- Eastern Air surges for third day
Date: 6-Sep-2007 Sources: (Shenzhen Daily)
SHARES of China Eastern Airlines Corp. surged by the daily trading limit for a third day in Shanghai yesterday after agreeing to sell a stake to Singapore Airlines Ltd. and Temasek Holdings Pte.
The airline climbed 10 percent to 12.78 yuan (US$1.69). The firm will raise HK$11.3 billion (US$1.5 billion) by selling shares to Singapore Airlines, Temasek and its parent company, it said Sept. 2. The carrier aims to boost its market share in Shanghai, China's second-busiest travel market, to 50 percent from 40 percent following the deal.
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