China Eastern Airlines plans to acquire a majority ( $ 450 m ) stake in China Airlines . Under the deal , China Eastern will acquire 8 % of Juneyao , Shanghai 's third largest carrier . China Eastern currently has a 40 % market share in Shanghai , while Juneyao has 8 % . Juneyao plans to put the airline towards repaying bank loans , as well as acquiring three B787 planes and one spare engine . China Eastern recently sold around 50 % of its shares to Juneyao .
China Eastern Airlines plans to buy a CNY3.15bn ($450m) stake in Juneyao Airlines. Under the deal, China Eastern would hold 8% of Juneyao, Shanghai's third largest carrier. China Eastern currently has a 40% market share in Shanghai, while Juneyao has 8%. Juneyao plans to put the funds towards repaying bank loans, as well as acquiring three B787 planes and one spare engine. China Eastern recently sold around 5% of its shares to Juneyao.