air-china-calls-for-alliance-with-china-eastern

Air China calls for alliance with China Eastern

Air China sends a formal proposal to China Eastern Airlines calling for a strategic alliance.
The long running saga involving Air ChinaÆs pursuit of China Eastern Airlines moved a stage further over the weekend as China National Aviation Corporation CNAC, the parent of Air China, said it had made a formal proposal to tie-up with China Eastern Airlines. It added that it would make details of the proposal public tomorrow January 22.

In a statement published in the official China Securities Journal, CNAC said it submitted its proposal to the China Eastern board on January 18. The proposal contains a plan to invest in China Eastern and form a strategic alliance between the two companies. Air China has asked for its shares to be suspended from trading today....
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