Post by
warrenbuffet99 on Dec 26, 2001 1:05am
Air China News
Air China eyes partner, overseas listing in 2002
Beijing Ð Air China, the national carrier, may seek a strategic
investor and start selling shares abroad next year after
completing mergers with China Southwest Airlines, and China
National Aviation.
Air China is now in contact with many companies interested
in buying a stake in the company, said Wei Zhengzhong,
director of the company's corporate affairs office. Wei declined
to name the possible partners.
"Next year is very important for the company," Wei said. "We
may choose strategic investors and list in overseas markets."
Air China may try to attract investment from one of its
international rivals to help bolster confidence in any share
offering. Airlines worldwide are facing falling sales and profit as
passengers delay or scrap travel plans in the wake of the Sept
11 terrorist attacks in the US.
Beijing-based Air China is one of three airlines slated by the
government to take over seven other state-owned carriers. The
other two, China Southern Airlines and China Eastern Airlines,
already sell shares abroad.
Air China's merger plan with two smaller airlines is likely to be
approved by China's State Council, or cabinet, in the first
quarter of next year, Wei said. The airline would then begin
choosing investors and separating aviation businesses from
the group as it prepares for a listing on a foreign stock market.
The Asian Wall Street Journal on Monday named Lufthansa,
Singapore Airlines, Northwest Airlines and Cathay Pacific
Airways as possible partners. Air China already has several
joint ventures with Lufthansa.
Air China started selecting advisers for the share sale after a
government-ordered industry restructure in April this year. The
airline shortlisted HSBC Holdings, UBS Warburg and Merrill
Lynch & Co in June.
China now caps foreign ownership in its airlines at 35 percent.
This is likely to be raised to 49 percent next year, Wei said. Ð
Bloomberg.
Comment by
Kingbee3 on Dec 26, 2001 1:44am
Isn't Air China doing a deal with Creator? I wonder how that's going? Bzzzzzzzzzzzzzzz!
Comment by
Kingbee3 on Dec 26, 2001 9:49am
I know that the "Air China Deal" is in the works so this news could extend Creator's contract with them. Bzzzzzzzzzzz!
Comment by
warrenbuffet99 on Dec 26, 2001 10:06am
The meat and potatoes for this company will be the revenues generated by the sports-betting facility in China. Eventually, the Air China contract should allow on-line betting on all its long haul flights.
Comment by
MoneySapiens on Dec 26, 2001 10:48am
The pieces are falling together. Creator's gaming business is about to explode.
Comment by
warrenbuffet99 on Dec 26, 2001 11:07am
We'll see some big numbers out of this one. Gambling is a multi-trillion dollar industry in China and Creator is tapping into it.