ATC Air Service
Search the site:
English Russian German Chinese
Our nearest office

Hong Kong

Hong Kong







Singapore Air CEO: No Plan for Higher China Eastern Bid Print  

Singapore Airlines does not plan to raise its US$918 million bid for a 24 percent stake in China Eastern Airlines, it said on Dec. 18, despite speculation that the bid is too low and could attract rival offers. 111 Singapore Air and parent Temasek had agreed in September to buy the stake to gain access to China's fast-growing and lucrative air network, and China Eastern shareholders will vote on the bid at an extraordinary general meeting on Jan. 8.

"Our price ceiling is on the table," said Chew Choon Seng, chief executive of Singapore Airlines, the world's second largest carrier by market value. "It is up to the shareholders of China Eastern to decide."

While the price Singapore Air offered was a premium to China Eastern's share price at the time the deal was signed, the mainland carrier's shares have since doubled, leading to grumbling about the offer price.

Air China, the country's largest airline, and Cathay Pacific have said they were also interested in buying into China Eastern.

The airline executives were in Beijing for the signing of an agreement for Air China and Shanghai Airlines to join the Star Alliance network.

The management team loss-making China Eastern is considered by some analysts to be a weak link in the domestic aviation industry, while Singapore Air is widely regarded as one of the world's best run carriers.

See also:

7/31/2014 China Southern launches a new Wuhan-Moscow direct flight

China Southern launches a new Wuhan-Moscow direct flight China Southern Airlines (CZ)has launched a new Wuhan - Moscow 3 days weekly service since 30 Jul,2014. The new route will be operated by wide-bodied Airbus A330-200. The flight starts from Guangzhou airport on Wed,Fri and Sun with a stopover at Wuhan (Central China Hubei province capital city)then directly following to Moscow Sheremetyevo airport. .

12/12/2013 «ТРАНСРОССИЯ-2014»

Группа компаний АТС приглашает Вас в очередной раз на крупнейшую логистическую выставку в России, странах СНГ и Балтии «ТРАНСРОССИЯ-12014».

5/10/2013 Группа компаний АТС на выставке Трансроссия 2013

Предлагаем вашему вниманию небольшой фотоотчет.

6/18/2012 CHINA TRANSPORT LOGISTICS 2012. Фотоотчет

Представляем вашему вниманию небольшой фотоотчет с недавно проходившей в Шанхае выставки CHINA TRANSPORT LOGISTICS 2012

5/8/2012 Трансроссия 2012

Группа компаний АТС на выставке Трансроссия 2012. Фотоотчет.