As the three global alliances are vying for a foothold in the Chinese market, China Eastern Airlines is leaving its options open, preferring to identify a new strategic investor before committing to one of the groupings,ATW On-line reported.
The carrier told the Shanghai Securities Gazette that it is speeding up talks on selling off a 20 percent-25 percent stake to a new investor, likely a foreign airline that already may be an alliance member. “There is no need to rush now, as we don’t want to disturb our ongoing negotiations,” it told the paper. China Eastern Airline Group holds a 59.9 percent share of the carrier with the remaining shares in circulation. It intends to maintain a controlling stake.