Just having a quick breeze through the Yahoo aviation news (always worth a look) and came across this:
Analysts have said the awkward shareholding structure of China Airlines - which says it is a private company, though it remains under government influence - is the key reason for the company's safety record, one of the worst in Asia. Last May's accident was the 10th fatal crash since 1970.
Surely it's more to do with cockpit discipline and a greater willingness to take chances and regard the contents of the ops manual as "suggestions" rather than mandatory? Can't see how the carrier's owner structure would impinge on safety so directly. After all, the crashes they've had have been due to pilot error or (in the case of the 742 a while back) structural failure.
There's analysts for you, though . . .