China Eastern Airlines (CEA)

China Eastern Airlines Corp. (NYSE:CEA), the nation’s second-largest carrier, denied a media report saying it’s seeking to sell a 20 percent stake to investors in the Middle East and Europe. “There’s no such plan,” Board Secretary Luo Zhuping said today, denying an Emirates Business report. He declined to comment on whether the carrier had resumed talks with Singapore Airlines Ltd. on a share sale.
China Eastern is on the look out for strategic investors in the Middle East and Europe, Emirates Business said today, citing Xu Zhao, Chief Financial Officer of parent China Eastern Air Holding Co. The Shanghai-based carrier failed to sell a 24 percent stake to Singapore Air and its parent in 2008. China Eastern is “actively seeking a strategic investor” and would like to find a partner this year, President Ma Xulun said. In addition, China Eastern Airlines is in advanced talks with AMR Corp (NYSE:AMR), American Airlines parent to bring it into the Oneworld alliance, AMR's Chief Financial Officer Tom Horton said on Wednesday.

Feb 25 · 3:48:00 PM · Source: Businessweek.com
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by Steve Wieczorek