Jun 01, 2022 07:47 PM

BUSINESS

Air China to Take Over Embattled Regional Airline

By Guo Yingzhe, Wang Shihan and Huang Rong

A Shandong Airlines plane stands on the tarmac of the Gaoqi International Airport in Xiamen, Fujian province, on Feb 23. Photo: VCG

A Shandong Airlines plane stands on the tarmac of the Gaoqi International Airport in Xiamen, Fujian province, on Feb 23. Photo: VCG

National flag carrier Air China Ltd. (601111.SH) is planning to take control of Shandong Airlines as part of a bailout of the debt-ridden regional airline, it said this week.

The state-owned giant is stepping in as its smaller peer suffers along with the rest of the country’s civil aviation industry, with companies racking up huge losses due to the Covid-19 pandemic.

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