Shanghai, China - China Eastern Airlines has signed an agreement with some partners, including Juneyao Airlines, to establish a joint-venture airline based in Hainan.
Hainan is an island province in the southern part of the country and a free-trade zone and tourism hub.
The state-owned airline will set up Sanya International Airlines with partners, including Juneyao Airlines, Trip.com Group, and two state-controlled firms based in Hainan, China Eastern said Sunday.
China Eastern will hold a 51% stake in the joint venture, while Juneyao and Trip.com will own 15% and 14%, respectively.
Sanya International, named after the beach city of Sanya in Hainan, will help the company improve its strategic layout in southern China and competitiveness, China Eastern said.
Hainan is an island province in the southern part of the country and a free-trade zone and tourism hub.
The state-owned airline will set up Sanya International Airlines with partners, including Juneyao Airlines, Trip.com Group, and two state-controlled firms based in Hainan, China Eastern said Sunday.
China Eastern will hold a 51% stake in the joint venture, while Juneyao and Trip.com will own 15% and 14%, respectively.
Sanya International, named after the beach city of Sanya in Hainan, will help the company improve its strategic layout in southern China and competitiveness, China Eastern said.
