China Eastern to launch business aviation company
13 Aug 2008
The board of Shanghai-based China Eastern Airlines (CEA) has approved plans to launch a business aviation service company that will, among other services, provide ground handling and maintenance for private and charter flights. The carrier said the new venture will be a wholly-owned subsidiary and will receive an investment of CNY50 million ($7.3 million).
The carrier said for the time being it had no plans for the purchase of business aircraft but could look at the possibility of reconfiguring some of its existing aircraft. It also said it was in negotiations with an American company that may place its four business jets in Shanghai early next year.
CEA launched a business jet division in 1995 which commands a 95 per cent market share in Shanghai.
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