Chinese State-Owned Airlines Join Exodus From NY Trading

(Bloomberg) – Two of China’s largest state-owned airlines said they would give up their New York Stock Exchange listings, joining a raft of government-controlled enterprises that announced their departures from U.S. bourses in the past year.

China Eastern Airlines Corp. and China Southern Airlines Co. in separate filings Friday stated their intentions to voluntarily delist their American depositary shares from the New York exchange. The companies attributed the decision to commercial factors, including the costs of maintaining a U.S. listing despite the smaller number of shares and trading volumes in the U.S. relative to those in Hong Kong.