Air China plans going public By Cao Desheng (China Daily) Updated: 2004-02-28 08:35
National flag carrier Air China is revving up to be listed in overseas stock
markets, Air China's president Li Jiaxiang said on February 27.
"Air China has had the full capacity to be listed and the plan is in the
pipeline," Li said, refusing to give the exact listing date and place.
However, the aviation power house is likely to be listed in Hong Kong in
September, according to sources quoted in the 21st Century Business Herald.
"As an airline ranking top in air transport capacity in the country, Air
China has created a good brand image in the civil aviation sector, and will take
further actions in capital operation," Li said.
Forming partnerships with other foreign airlines as a development has been an
Air China operational strategy, according to Li.
On March 28, Air China and Japan's ANA will commence code sharing and jointly
operate 95 flights per week between Beijing and Tokyo/Osaka, and Shanghai and
Tokyo/Osaka, Li told a press conference.
Air China and ANA signed a code-share agreement on February 26 on
Sino-Japanese routes operated by both airlines, including co-operation on
frequent flyer programmes and airport lounge use.
ANA's 56 weekly flights from Tokyo, Narita and Osaka/Kansai to Beijing and
Shanghai will carry the Air China code, while Air China's 39 weekly flights on
the same routes will operate under Air China's and ANA's flight numbers.
Both airlines will also inaugurate flights between Hangzhou and Tokyo/Osaka
on the summer schedule, bringing the total of code-share flights to 105 by April
21.
In addition to the code-share agreement, members of Air China's Companion
Frequent Flyer Programme and ANA Mileage Club members will be eligible to accrue
mileage on the code-share flights and redeem them on any flight on each other's
networks.
"The global aviation industry is growing from competition to co-operation, so
airlines can boost their development only on the basis of sound partnerships,"
Li said.
Since the beginning of October last year, ANA and Air China have been
operating a connecting service via Beijing between Tokyo/Narita and the Chinese
domestic cities of Chengdu, Chongqing, Hangzhou, Nanjing, and Changchun.
The service is designed to facilitate onward domestic travel in China for
passengers arriving from Japan, and for those passengers traveling to Japan from
the above cities.
"Demand for air traffic is forecast to grow in line with a quickly expanding
Chinese economy, and both airlines will be able to play a greater role in that
growth thanks to the their co-operation," Li said.
Comprehensive restructuring and consolidation of the civil aviation industry
of China in 2003 brought new opportunities for the development of Air China.
To date, Air China has already signed individual code-share co-operation
agreements with over 60 international or regional airlines, including Lufthansa,
United Airlines, Asiana, Finnair, Austrian, SAS, Turkish and Dragon Air.