Trading in the shares of Shanghai Airlines, which is merging with China Eastern Airlines, have been suspended after the carrier applied to delist from the Shanghai stock exchange.
Despite the merger, Shanghai Airlines plans to hold onto its air operator's certificate, according to Chinese news reports.
Shanghai Airlines shareholders have a choice of selling their shares to China Eastern at 5.5 yuan (80 cents US) each, or accepting 1.3 China Eastern shares for every Shanghai Airlines share, add the reports.
Source: Air Transport Intelligence news
