Airline's stake sale deferred

Saturday, 28 July, 2012, 11:34am

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The foundation that owns China Airlines has temporarily set aside efforts to attract a buyer for a stake in the Taiwanese carrier, giving it time to assess the problems that have stalled a sale for 17 months. The government-linked China Aviation Development Foundation also announced it would renew an advisory contract with United States investment bank Salomon Smith Barney. The foundation chose Salomon a year ago to help it find a buyer for half its 71 per cent stake in China Airlines, Taiwan's largest airline.