Air China not keen on stake
Date:2008/05/13 Source:
AIR China Ltd, the world's largest carrier by market value, said it isn't in talks to buy a stake in smaller rival China Xinhua Airlines Co, denying a local report.
Air China may buy a 40 percent stake of Xinhua Airlines from Shenhua Group Corp to become its second-largest shareholder, China Times said last Saturday, citing a person it didn't identify.
"Air China isn't interested in the stake," Rao Xinyu, head of investor relations, told Bloomberg News by phone yesterday. ''I'm not aware of any ongoing talks regarding Xinhua Airlines." Xinhua Airlines serves more than 80 routes.
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