China expected to approve first private airline

From The Edge Daily:

China’s civil aviation regulator is expected to approve the country’s first private airline after completing draft regulations to let private capital into the previously shuttered sector, state media said on Feb 21.

China approved preparations for setting up private early last year as part of a broader plan to liberalise the market and let in foreign investment.

Okay Airways, with registered capital of 300 million yuan (RM137.75 million), would be based in the northern municipality of Tianjin and operate three Boeing Co 737 aircraft, the official China Daily said.

February 21, 2005 8:13 AM
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Categories: Economy