Even while Shanghaiist is waiting with bated breath for direct flights to the east coast, China Eastern Airlines is set to sell a 25 percent stake to Singapore Airlines, the world’s largest carrier by market capitalisation, for HK$7.9 billion (US$1 billion) worth of new shares. In the meanwhile, Temasek Holdings Pte, Singapore’s state-owned investment arm with $85 billion of assets, may join Singapore Airlines in its bid for a stake. China Eastern suffered a net loss of 2.8 billion yuan in 2006, thereby gaining the dubious honour of becoming the only one of China’s three state-owned airlines to report a loss last year. Whatever it is, one can only hope this means better inflight service, better food, fewer delays and fewer cancellations for passengers.
Photo of China Eastern flight attendant by TommyOshima was found via the Shanghaiist Contribute page.
Shanghaiist has revived our “Photo of the Day”, a series of daily pictures of life around the city. We want you to share how you see Shanghai. Simply post your photos on Flickr, tag them with “shanghaiist”, and we’ll select one favorite image per day. Or you can simply email your photos to photos[at]shanghaiist.com. So go ahead. Show us your Shanghai.