China Eastern Airlines has inked an agreement to acquire an additional 20% stake in China United Airlines, which will now become its wholly owned subsidiary.
The Shanghai-based carrier, which already holds an 80% stake in China United, will acquire the remaining 20% share from its holding company China Eastern Air Holding. The latter had acquired the shares from China Aviation Supplies Holding in May.
China United is a scheduled domestic carrier based at Beijing Nanyuan airport. It operates a fleet of 11 Boeing 737s and Airbus A319s.