Air China

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China Tries Building Jet Engine

While China was able to blast its astronauts into space and send a submarine down into the depths of the sea, it has yet to build a successful jet engine. Previously, China has relied on Russia for advanced fighter aircraft....

China Grounds Flights Amid Hoax Threats

Chinese state media reports a hoax threat grounded a China Southern Airlines plane in Xinjiang autonomous region, from Xinhua: The China Southern Airlines flight CZ680, traveling from Istanbul to Beijing via Urumqi, was grounded...

Air China Flight Turns Back After Threat

Chinese state media is reporting that an Air China flight to New York had to return to Beijing following a threat, according to AFP: Air China flight 981 returned to the Beijing Capital International Airport, the report quoted...

South Korean Arrested in Air China Bomb Threat

AP reports on an email threat against Air China flights, allegedly made by a South Korean man living in Japan: Lee Hyon-sa, 33, was arrested early Sunday, police spokesman Satoshi Idonuma said. Kyodo News said Lee turned himself...

Travel Boom Makes Air China Soar

From BBC News: Air China has reported a 147% rise in quarterly profits, helped by a travel boom sparked by the rapid growth in the Chinese economy. The airline made net profits of 1.04bn yuan ($149m; £75m) in the first three...

China’s State Companies Outgrow The ‘Family’ – Richard McGregor

From The Financial Times: In the media reports about offshore acquisitions by Chinese companies, the myriad diverse buyers are usually described in headlines and electronic tickers in a single word: “China”. It is a convenient compression. Autonomous as they may claim to be, every Chinese state enterprise, be it Minmetals, the Bank of China or […]

Shareholders Reject Singapore Air Offer – Jamil Anderlini

From The Financial Times: Minority shareholders in China Eastern Airlines rejected the proposed sale of 24 per cent of the carrier to Singapore Airlines and its parent Temasek on Tuesday, following an unprecedented campaign by domestic rival Air China to scupper the deal. The rejection leaves China National Aviation Corp , Air China’s parent, free […]

Air China Raises Price for Rival – BBC News

From BBC News: Air China has upped efforts to buy a stake in China Eastern Airlines , saying it will pay more than a rival offer. China Eastern shareholders meet on Tuesday to decide whether to accept a $923m (£467m) bid from Singapore Airlines and investment firm Temasek. But Air China said it will pay […]

Merger a Possibility: Airline – China Daily

China Daily reports that “Air China says joining with rivals is an option, as profit rises 240%,” via China.org: The mainland’s largest freight carrier Air China Ltd said yesterday it would not rule out the possibility of merging with rivals including China Southern Airlines to raise its competitiveness. Air China President Cai Jianjiang made the […]

Air China Profits Rise 2,000% – Jamil Anderlini

From Financial Times: Air China on Wednesday said profits soared in the first half due to the strengthening Chinese currency, investment gains and a booming travel market. The carrier said its net profit increased more than 2000 per cent to at least Rmb900m ($119m) for the first six months, up from the Rmb45m it reported […]

China Doubles Prison Terms for Stock Manipulators to 10 Years – Bloomberg

From Bloomberg News: China’s government doubled the maximum length of imprisonment for securities manipulators to 10 years, a move that may help boost investors’ confidence in the nation’s stock markets as state companies including Air China Ltd. prepare to sell local-currency A shares for the first time. In addition, a law enabling jail terms of […]

Cathay to Buy Control of Dragonair for $1.58 Billion – Bloomberg

From Bloomberg: Cathay Pacific Airways Ltd., Asia’s fifth-biggest carrier, will pay $1.58 billion to buy Hong Kong Dragon Airlines Ltd . and double its stake in Air China Ltd., adding 21 routes in the world’s second-largest aviation market. Cathay will buy the 82 percent stake it doesn’t own in Dragonair for HK$8.22 billion ($1.1 billion) […]

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