China Eastern sells China Cargo Air shares

BTN News
Wednesday, 15 February 2017

China Eastern Airlines has sold its shareholding in loss-making freighter operator China Cargo Airlines through the 100 per cent sale of its shares in Eastern Logistics, which in turn owns 83 per cent of China Cargo Airlines.

Eastern Logistics itself has been bought by Eastern Airlines Industry Investment Company, a wholly-owned subsidiary of China's state-owned CEA Holdings, for RMB2.4 billion.

China Eastern says the sale will allow it to "focus on air passenger transportation, further foster its reform and transformation and strive to create better investment returns for shareholders".

As is currently the case, China Cargo airlines will continue to manage belly space and freight operations on China Eastern’s passenger flights.

China Eastern sells China Cargo Air shares

BTN News
Wednesday, 15 February 2017

China Eastern Airlines has sold its shareholding in loss-making freighter operator China Cargo Airlines through the 100 per cent sale of its shares in Eastern Logistics, which in turn owns 83 per cent of China Cargo Airlines.

Eastern Logistics itself has been bought by Eastern Airlines Industry Investment Company, a wholly-owned subsidiary of China's state-owned CEA Holdings, for RMB2.4 billion.

China Eastern says the sale will allow it to "focus on air passenger transportation, further foster its reform and transformation and strive to create better investment returns for shareholders".

As is currently the case, China Cargo airlines will continue to manage belly space and freight operations on China Eastern’s passenger flights.