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  1. HNA springs into talks on Shanghai hotel towers

    Posted Dec 03rd 2009, 12:00am by Naomi Rovnick, Peggy Sito

    ... Peggy Sito and Naomi Rovnick HNA Group, which co-owns Hainan Airlines with billionaire investor George Soros, has emerged as a white knight for two uncompleted hotel towers in Shanghai, reviving hopes they can be built before the city's World Expo next year. The state-owned enterprise was in advanced talks to buy an 85 per cent stake in the two unfinished developments from ...

  2. Private carriers battle to stay afloat amid economic headwinds

    Posted Mar 23rd 2009, 12:00am by Charlotte So

    ... not received capital injections from the government, these privately owned airlines would not have become the first to fall,' said Zhang Lei, the general manager of Spring Airlines ... March 14. Air China??s parent is seeking to buy it United Eagle Airlines State-backed Sichuan Airlines increased its stake in carrier from 20 per cent to 76 per cent on March 17 Spring Airlines ...

  3. BA eyes deal for Japan Airlines

    Posted Mar 18th 2011, 12:00am by Anita Lam

    ... Anita Lam British Airways is eyeing the chance of a consolidation with the cash-strapped Japan Airlines (JAL) despite the latter's dimmed business outlook in light ... stifled passenger and cargo traffic, losing the airline even more than the impact of last year's snowstorm in Britain. 'We lost about GBP15 million [HK$188 million] a day during ...

  4. Airline kingpin in the cross hairs

    Posted Mar 07th 2010, 12:00am by Staff Reporter

    ... Stephen Chen The president of Shenzhen Airlines is being probed for suspected economic crimes, Xinhua reports. Li Kun was picked to stabilise the airline after its senior consultant and major shareholder Li Zeyuan was detained for economic crimes last November. Xinhua yesterday said the airline's party secretary and vice-president Fan Cheng is now the acting president. Fan ...

  5. Airline ignored spirit of contract in cutting pilot's pay, High Court rules

    Posted Jul 09th 2010, 12:00am by Patsy Moy

    ... Patsy Moy A Hong Kong-based airline came under fire from a High Court judge for 'snubbing the contractual spirit' by unilaterally cutting the salary of a pilot by 20 per cent. After its appeal was dismissed yesterday, Hong Kong Airlines said it would take the legal battle to the Court of Final Appeal. In his judgment, Court of First Instance judge Mr Justice Pang ...

  6. Airline industry to lose US$5.6b next year

    Posted Dec 16th 2009, 12:00am by Charlotte So

    ... Charlotte So in Geneva The global airline industry is expected to lose US$5.6 billion next year, even though revenues are expected to rise along with the number of passengers as the economy picks up, according to an airline trade group. Although the industry would remain in the red, the losses would be about half the US$11 billion expected for this year, said ...

  7. Tycoon's detention casts cloud over future of airline

    Posted Dec 01st 2009, 12:00am by Staff Reporter

    ... He Huifeng Li Zeyuan, the de facto majority owner of Shenzhen Airlines, has been detained for economic crimes, raising questions over the future of the mainland's largest privately owned carrier. Li, 54- the senior adviser of the airline and father of Li Mo, the airline's chairman- is under police investigation, Xinhua said yesterday in a brief statement without ...

  8. Airline shares take wing over fuel surcharge

    Posted Nov 14th 2009, 12:00am by Charlotte So

    ... Charlotte So Shares in China Eastern Airlines Corp and other mainland carriers climbed as much as 13 per cent yesterday after Beijing allowed them to levy a fuel surcharge on domestic ... rival Shanghai Airlines. Air China, China Southern Airlines and China Eastern are to charge 50 yuan more per passenger for trips of over 800 kilometres and 20 yuan more for routes under 800 ...

  9. Iata doubles loss forecast for global airline industry to US$9b

    Posted Jun 09th 2009, 12:00am by Charlotte So

    ... Charlotte So in Kuala Lumpur The global airline industry will post a loss of US$9 billion this year, nearly double the previous estimate made three months ago, due to falling air traffic ... revised the losses for last year to US$10.4 billion from the previous estimate of US$8.5 billion. Global airlines will see cargo volume drop 17 per cent to 33.3 million tonnes this year while ...

  10. Oasis airline trolleys fly out the saleroom

    Posted Jul 05th 2009, 12:00am by Staff Reporter

    ... from the once loved, now defunct, Oasis Hong Kong Airlines. 'It's all been popular,' said Peter Yu of China Wave International. 'Lots of people have bought the trolleys. You ... a piece of the world's first budget long-haul airline. The paper cups and the plastic disposable cutlery have also been popular, as was the toilet paper, and- not surprisingly- the alcohol. ...




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