SHANGHAI, Nov 01, 2010 (SinoCast Daily Business Beat via COMTEX) --
Shanghai Airlines, a solely owned unit of China Eastern Airlines Corporation (SHSE: 600115), November 1 announces that it quits the Star Alliance on the day and will join the SkyTeam together with its parent.
Shanghai Airlines became a member of the Star Alliance as early as December 12, 2007. Nevertheless, it was taken over via a share swap by China Eastern Airlines on January 28 this year. On April 26 China Eastern Airlines entered into an agreement of intent with the SkyTeam and the Shanghai traded air carrier is predicted to fulfill the procedures of becoming a member of the latter alliance in the middle of next year.
A subsidiary joins the same alliance along with its parent company in terms of the international practice.
Shanghai Airlines will be able to further improve its air route network and strengthen competitiveness after joining the SkeyTeam, says people from China Eastern Airlines.
Air China Ltd. (SHSE: 601111), the strongest in international flights among top three Chinese air carriers, joined the Star Alliance, but the rest two like China Eastern Airlines and China Southern Airlines Limited (SHSE: 600029) become members of the SkyTeam.
From http://goo.gl/TaZB
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