Ctrip ties up with China Eastern
Print Edition
CTRIP.COM will invest 3 billion yuan (US$463 million) in China Eastern Airlines and they will cooperate in selling air tickets and operating a budget carrier, the partners said yesterday.
Ctrip, China’s biggest online travel agency, has agreed to buy the Shanghai-based carrier’s A shares through a private placement.
Ctrip plans to further raise its stake in China Eastern in the next 12 months following the placement and may be entitled to appoint an observer or a director to the airline’s board of directors, according to an agreement signed by both parties.
China Eastern and Ctrip may work jointly to expand the fleet of China United Airlines, a wholly controlled low-cost carrier under China Eastern, to 80 aircraft by 2020, said Ma Xulun, general manager of China Eastern.
Delta, the world’s third-biggest carrier, said in September that it would buy 465.91 million Hong Kong-listed shares of China Eastern. The shares are worth a 3.55 percent stake in the Shanghai-based airline.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
