Dear CBI members & partners, firstly an apology for fewer China Direct updates than normal over the past 1-2 weeks. This has been due to restrictions on global Internet access during the current Congress. We hope that normal service will soon resume and thank you for your patience.
CBI member DLA Piper has advised China Eastern Airlines (CEA), one of the largest Chinese airlines operating domestic, regional and international routes, on its strategic investment in Euronext Paris listed Air France-KLM (AFK).
Through this transaction, CEA and SkyTeam alliance member Delta Air Lines (Delta) have each acquired a 10 percent stake in AFK’s share capital within the framework of reserved capital increases. The transaction closed on 3 October 2017.
The new partnership will help AFK secure more access to the booming Chinese air travel market, especially to Shanghai, where CEA is headquartered, and which is also China's biggest business market. It will also help strengthen AFK’s control over trans-Atlantic flights.
Please read more here.
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