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Team Set Up To Oversee Merger
Source: Xinhua |
June 11, 2009, Thursday
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Print Edition
Print Edition
CHINA Eastern Airlines had set up a joint working team with rival Shanghai Airlines to oversee their merger, a spokesman for the company said yesterday.
Liu Shaoyong, general manger of the China Eastern Air Holding Company, will act as head of the joint team for restructuring work, said spokesman Liu Jiangbo.
"China Eastern and Shanghai Airlines began restructuring procedures on (Monday), and the joint working team will be mainly in charge of related issues," he said.
China Eastern has a registered capital of 2.6 billion yuan (US$382.4 million) and 220 aircraft. Shanghai 掳?Airlines has 521 million yuan and 70 aircraft.
Liu Shaoyong, general manger of the China Eastern Air Holding Company, will act as head of the joint team for restructuring work, said spokesman Liu Jiangbo.
"China Eastern and Shanghai Airlines began restructuring procedures on (Monday), and the joint working team will be mainly in charge of related issues," he said.
China Eastern has a registered capital of 2.6 billion yuan (US$382.4 million) and 220 aircraft. Shanghai 掳?Airlines has 521 million yuan and 70 aircraft.
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