Taiwan’s China Airlines (CAL) has formally dropped a more than four-year-old plan to buy 25% of China Eastern Airlines subsidiary China Cargo Airlines. CAL announced in September 2001 that it had agreed to buy 25% of China Cargo, which is 70%-owned by Shanghai-based China Eastern and 30%-owned by China Ocean Shipping. Chinese and Taiwanese government approvals were later secured but a final deal was never concluded.
Source: Airline Business
