China Eastern buys into Great Wall Airlines
10 / 03 / 2010
ALL-cargo carrier Great Wall Airlines (GWL) is assuring customers that a recent change in majority ownership will not affect the company’s operations.
China Eastern Air Holding Company, the parent of China Eastern Airlines, has acquired a 51 per cent stake in GWL, which was previously held by Beijing Aerospace Satellite Applications Corporation.
This brings the total number of cargo airlines that China Eastern runs to three: China Cargo Airlines, Great Wall Airlines and Shanghai Airlines Cargo.
The other shareholders in GWL, namely Singapore Airlines Cargo and Dahlia Investments, remain invested with a 25 per cent and 24 per cent stake respectively.
“It is business as usual,” said GWL president, Kuah Boon Kiam. “We remain committed to helping to serve the growing trade ties between China and markets in Europe, the United States and Asia.”
However, China Eastern’s director Luo Zhuping said: “The three [cargo] airlines will be merged finally, but we have yet to map out [a] detailed plan or timetable.”
GWL is based at Shanghai’s Pudong International Airport and operates a fleet of three 747-400 freighters.