BIZCHINA / Biz Media Digest
Aviation: Taiwan's China Airlines to buy stake in Taikoo
(Reuters)
Updated: 2007-06-13 16:15
Taiwan's largest carrier, China Airlines Corp., will pay US$1.1 million
for an 8 percent stake in Taikoo (Xiamen) Landing Gear Services Co Ltd, a
mainland firm that services landing gear for aircraft, the company said
on Wednesday.
The cross-Strait investment is the latest in a small but significant
series by the Taiwan airline which, like rival EVA Airways, is building a
presence in the Chinese mainland in anticipation that it may be able to
offer regular flights to the mainland in the future.
China Airlines will purchase the stake in Taikoo (Xiamen) Landing Gear
Services Co Ltd via an unnamed subsidiary, according to a statement
posted on the Taiwan Stock Exchange.
Hong Kong Aircraft Engineering Co. Ltd. (HAECO) holds a 50.2 percent
stake of Taikoo.
The stake was bought from HAECO, Taikoo (Xiamen) Aircraft Engineering Co
Ltd, Xiamen Aviation Industry Co Ltd, Cathay Pacific Airways Ltd and
Japan Airlines International Co Ltd, China Airlines said, without
providing details.
The purchase was subject to approval by relevant authorities, the company
said.
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