CEA TO SEEK NEW STRATEGIC INVESTOR
AsiaInfo Services, November, 2004
AsiaInfo Services 11-12-2004 CEA to Seek New Strategic Investor BEIJING, Nov 12, 2004 (SinoCast via COMTEX) -- China Eastern Airlines Corp. Ltd. (CEA), one of the three largest airline companies in China, recently announced that it would seek a new strategic investor as its original partner Cathay Pacific Airways Ltd.
(CPA) had joined hands with Air China. Li Fenghua, newly-installed chairman at CEA, remarked that CEA should improve the service quality and flight punctuality, and upgrade the competitiveness in China's airline sector with the help of foreign investors and excellent Chinese companies. CEA's intention to cooperate with CPA broke down, with CPA's announcement of intention to buy a 9.9% stake in Air China whenAir China makes an IPO around the end...
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