China Southern plans revealed
China Southern Airlines' planned restructuring involved either a merger with Air China or the purchase of China Eastern Airlines Corp, according to a report in Caijing magazine. The report also said China Southern might team with Air France for the acquisition. Last month Singapore Airlines and Temasek Holdings, Singapore's investment arm, signed a preliminary agreement for a 24 per cent stake in China Eastern. Cathay Pacific Airways and Air China also made an unsuccessful attempt to buy a stake in China Eastern.