Chongqing Airlines, a new airline 60-percent owned by China Southern Airlines Co, may start flying in July, the South China Morning Post said, citing unidentified sources. China Southern will supply aircraft and technical support to Chongqing Airlines, to be established on June 18.
The airline will start with three Airbus A320 aircraft, the newspaper said. State-owned Chongqing Development & Investment Corp will invest cash for a 40 percent stake in Chongqing Airlines. Total investment will be 1.2 billion yuan (US$157 million) in cash and equipment, with half provided at the beginning and half after two years of operation.
(Shanghai Daily May 29, 2007)
