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At first, the bidding war that erupted recently for a stake in China Eastern Airlines, China's third largest carrier by revenue, was hailed as an example of capitalism invading the country's tightly controlled airspace. China Eastern was entertaining an offer by Singapore Airlines to buy 24% of the...
Shareholder's did what shareholders almost always do: they went for the highest bidder, on Jan. 8 voting to reject Singapore's overture. This cleared the way for CNAC to sweeten the pot. But while the vote may have seemed like the free market at work, the Chinese government isn...
The government's tacit approval of the CNAC-China Eastern alliance marks a potentially significant policy shift by the Civil Aviation Administration of China (CAAC), the country's aviation regulator. Just as Beijing has opened up its backward banking sector to overseas investment in order to tap the expertise of...
The man at the controls appears to be Li Jiaxiang, who in late December left his post as CEO of CNAC to take over as China's top airline regulator. Li has been a vocal opponent of allowing foreign carriers greater access to China's skies and has encouraged domestic...
The problems have become increasingly evident to customers. China's airports are infamous for flight delays and cancellations. The CAAC reports an 80% on-time-arrival rate countrywide, but frequent fliers traveling through clogged metropolitan airports beg to differ. On Nov. 20, for example, more than 50 flights to and...