The South Korean company had planned to buy a 20% stake in Grand China Express Airlines, an effort to tap into aviation industry. It is now surveying the airline before inking formal investment agreement.
Grand China Express Airlines, a joint venture of Hainan Airlines Group and its subsidiary Hainan Airlines Co., Ltd. (SHSE: 600221), has a registered capital of CNY 600 million and is headquartered in Tianjin Binhai International Airport with operational bases in Tianjin and Xi'an. Being the country's largest regional air carrier, the venture planned to introduce 50 ERJ145 aircrafts and 50 EMB190 aircrafts in the following five years.
The shipbuilding giant shows interest in China's air transportation industry because it is confident in the country's economy and regional aviation, which is supported by the country's policies.
From www.cnstock.com, Page 1, Wednesday, July 23, 2008 info@SinoCast.Com

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