Juneyao plans to buy a CNY3.15bn ($450m) stake in China Eastern Airlines Airlines. Under the deal, China Eastern would hold 8% of China Eastern Airlines, Shanghai's third largest carrier. China Eastern currently has a 40% market share in Shanghai, while China Eastern Airlines has 8%. China Eastern Airlines 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 China Eastern Airlines.
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.