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JAL to increase stake in Spring Airlines Japan
Japan Airlines plans to make the Japan based unit of Chinese LCC Spring Airlines into a majority-owned subsidiary. JAL is upping its stake in Spring Airlines Japan from the current 5% to 51%.
Spring Airlines Japan has a base at Tokyo Narita Airport flying to domestic destinations as well as Chinese cities including Tianjin and Harbin. "This will give us greater access to parts of the Chinese market that previously we have not been able to reach," JAL said.
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