China Eastern's Parent Company Increases Stake with $23 Million Share Purchase
China Eastern Air Holding (CEA Holding), the state-owned parent of China Eastern Airlines, has increased its investment in the carrier. The company acquired over 58.7 million A-shares on the Shanghai Stock Exchange for approximately CNY166.4 million, which is equivalent to about USD23 million. This transaction has raised CEA Holding's total stake in the publicly listed airline from 48.77% to 48.87%. The share purchase is interpreted as a signal of the parent company's confidence in the future performance and value of China Eastern Airlines. This move reinforces the state's significant control and support for the major carrier.
Official Source: https://www.ch-aviation.com/news/165045-china-eastern-airlines-parent-raises-stake-with-23mn-buy
Related Aviation News:
- WestJet closes deal selling 25% of stakes to other airlines
- Delta, Korean Air and Air France-KLM finalize WestJet minority share purchase
- Burger King parent sells China stake for $350m as Western brands adapt
- Turbulence in the Skies: The Ongoing Saga of China Eastern Airline, Air China and Singapore Airlines
- Ctrip's latest partnership and investment: China Eastern Airlines