HONG KONG – The parent company of Air China used a newspaper advertisement last Saturday to plead with the directors of China Eastern to review its rejection of a proposed alliance between the two carriers.
AFP reported that China National Aviation Corp (CNAC), parent of flagship carrier Air China, insisted its bid was sincere in an advertisement placed in the South China Morning Post.
“CNAC has been highly sincere in seeking a strategic partnership with China Eastern Airlines,” the advertisement said.
“CNAC hopes that the board of directors of China Eastern Airlines will seriously review and give full consideration to the proposal.”
China Eastern, the country’s third largest carrier, has rejected the alliance and said the bid “lacks sincerity, planning and mutual trust and it would be hard to create a basis for cooperation”.
China Eastern added it would continue seeking strategic investors to strengthen its core business.
Singapore Airlines and Temasek Holdings, Singapore’s state-linked investment firm, signed a preliminary deal in September to take a 24 percent stake in China Eastern but minority shareholders rejected the bid.
