Taiwan's Cdfhc To Buy CI

Thu Jun 27, 2002 1:23 am

Taiwan's China Development Financial Holding Corp (CDFHC) said on Wednesday it has a keen interest in investing in China Airlines as the government has vowed to privatise the island's largest carrier.

The chairman, Liu Tai-Ying expressed his interest to the media this morning. He quote "I've been asking China Airlines' parent to release their stake 4 to 5 years ago. Under their current situation (4 or 5 years ago), CI will have a big problems. It's been 5 years now and there's no sign of CI's stake being released. I won't say anything right now because CI did have a big problem now." Liu said he'll try to twist the bad reputation of CI to the most safest airline in the world.

Liu also said that according to the current Taiwan's civil aviation market, there's only room for 2 to stay. As a result, he'll merge China Airlines, Far Eastern Air Transport, and Transasia Airways under a single, big company. The new airline will also establish its on aircraft maintainance company. The new China Airlines will cooperate with British Airways, American Airlines and other famous carriers.

CDFHC recently bought majority of shares of Transasia Airways.

The chairman of CDFHC, Liu Tai-Ying, is known as the "Boss of business" of Taiwan's Kuo Ming Tung (KMT). He was the guy who said Taiwan has the ability to shoot missile to Hong Kong 3 years ago.