The Civil Aviation Administration of China (CAAC) has approved Air China’s application to establish a subsidiary in northeast China. The airline will hold 80% Dalian Air, capitalised at 1 billion yuan ($155 million), with a unit of the Dalian city government holding the remainder.
AIR CHINA TO SET UP DALIAN AIR IN NORTHEAST CHINA
The Civil Aviation Administration of China (CAAC) has approved Air China’s application to establish a subsidiary in northeast China. The airline will hold 80% Dalian Air, capitalised at 1 billion yuan ($155 million), with a unit of the Dalian city government holding the remainder.