USADreamliner
Topic Author
Posts: 1211
Joined: Sat Sep 17, 2005 1:33 pm

Singapore Airlines To Buy 24% China Eastern

Fri Nov 09, 2007 3:38 pm

Temasek Holdings [TEM.UL] and Singapore Airlines Ltd have signed a definitive deal to buy a 24 percent stake in China Eastern Airlines..
Singapore state investment agency Temasek said it would pay US$315 million for a 8.27 percent stake in China Eastern. Singapore Air is set to own 15.73 percent of the Shanghai-based carrier, but a dollar figure for that part of the deal was not immediately available.

In September, the companies said the two Singapore firms would pay US$918 million for a combined 24 percent stake.

http://asia.news.yahoo.com/071109/3/3ap6b.html
 
LAXdude1023
Posts: 4460
Joined: Thu Sep 07, 2006 3:16 pm

RE: Singapore Airlines To Buy 24% China Eastern

Fri Nov 09, 2007 9:51 pm

Maybe now MU wont suck so bad. Ive flown with them several times on LAX-PVG and ive had better.
It is what it is...
 
elmothehobo
Posts: 967
Joined: Thu Aug 10, 2006 11:10 am

RE: Singapore Airlines To Buy 24% China Eastern

Fri Nov 09, 2007 10:30 pm

So should we expect an alliance switch-a-roo soon? Air China to Oneworld and China Eastern to Star Alliance?
 
SInGAPORE_AIR
Posts: 11619
Joined: Mon Nov 13, 2000 4:06 am

RE: Singapore Airlines To Buy 24% China Eastern

Fri Nov 09, 2007 10:43 pm

Air China and Shanghai Airlines are due to join Star Alliance in December 2007.

Singapore Airlines Limited will have a say as to which alliance China Eastern, if any, will (eventually IMO) join. No prizes for guessing who's the front runner in this regard.
Anyone can fly, only the best Soar.
 
luv2fly
Posts: 11056
Joined: Tue May 13, 2003 2:57 am

RE: Singapore Airlines To Buy 24% China Eastern

Sat Nov 10, 2007 2:53 am

Quoting Singapore_Air (Reply 3):
Air China and Shanghai Airlines are due to join Star Alliance in December 2007.

Singapore Airlines Limited will have a say as to which alliance China Eastern, if any, will (eventually IMO) join. No prizes for guessing who's the front runner in this regard.

Only having 24% is not enough to tell them what to do, as they will have less then 1/4 of control of the Company.
You can cut the irony with a knife
 
sq452
Posts: 994
Joined: Sat Apr 17, 2004 4:49 am

RE: Singapore Airlines To Buy 24% China Eastern

Sat Nov 10, 2007 7:08 am

Quoting Luv2fly (Reply 4):
Only having 24% is not enough to tell them what to do, as they will have less then 1/4 of control of the Company.

Yup.

This story is actually very old news. They inked the deal a couple of months ago in Shanghai, this was just one of the many "green lights" they needed to get from the regulatory authorities.

IMHO, MU isn't THAT bad of a product. Their newer Airbus planes are actually quite nice and the service decent, more than you can say for some airlines in the U.S. these days.
SIN > CVG > BOS
 
SInGAPORE_AIR
Posts: 11619
Joined: Mon Nov 13, 2000 4:06 am

RE: Singapore Airlines To Buy 24% China Eastern

Sat Nov 10, 2007 8:36 am

Quoting Luv2fly (Reply 4):
Only having 24% is not enough to tell them what to do, as they will have less then 1/4 of control of the Company.

Singapore Airlines Limited has a clause regarding this and other issues in the Heads of Agreement. They will have a veto on this issue.
Anyone can fly, only the best Soar.
 
luv2fly
Posts: 11056
Joined: Tue May 13, 2003 2:57 am

RE: Singapore Airlines To Buy 24% China Eastern

Sat Nov 10, 2007 8:00 pm

Quoting Singapore_Air (Reply 6):
Singapore Airlines Limited has a clause regarding this and other issues in the Heads of Agreement. They will have a veto on this issue.

I'm sure they have all kinds of things, though when it comes to voting they do not have the power! They own less then 1/4 of the company.
You can cut the irony with a knife

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