Air China Ltd. will gain control of Shenzhen Airlines Ltd. through a 682.1 million yuan (US$100 million) investment.
Air
Shenzhen International Holdings Ltd. will also invest 348 million yuan and raise its stake to 25 percent.
A majority stake in Shenzhen Airlines,
Beijing-based Air
“This is definitely a good move for Air
Li Zeyuan’s company, Shenzhen Huirun Investment Co., is facing a creditors’ bankruptcy case, which has been accepted by the Shenzhen Intermediate People’s Court, Air
A second Shenzhen Airlines executive, Li Kun, is also under investigation, company spokesman Liu Hang said March 7.
Shenzhen Huirun’s stake in Shenzhen Airlines will drop to 24 percent from 65 percent under the restructuring, Air
The investment company’s liquidator waived the right to inject more capital into Shenzhen Airlines, Air