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2009-1-12 08:25:00 p.m. HKT, XFNA
DJ Air China:Parent Eyeing All Or Part Of East Star Airlines
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| HONG KONG (Dow Jones)--Air China Ltd. (0753.HK), China's biggest carrier by fleet size and passengers, said Monday its parent is in 'preliminary communication' to acquire all or part of East Star Airlines, a private domestic carrier.
Air China said in a statement its parent, China National Aviation Holdings Co., hasn't signed any formal agreement on the acquisition.
'It's not yet certain if the transaction will eventually materialize,' Air China said, adding that it isn't involved in the deal.
The statement didn't say why Air China's parent is looking to buy Wuhan-based East Star, but analysts said earlier some domestic Chinese airlines were struggling to survive the slowdown in travel demand as the global crisis deepened. -By Aries Poon, Dow Jones Newswires; 852-2832-2332; aries.poon@dowjones.com
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