Spring Airlines parent pledges 31m shares as loan guarantee

China Eastern parent cuts TravelSky stake

17.12.2020 – 04:07 UTC

China Eastern Air Holding will water down its shareholding in Travelsky Technology after it agreed to sell a 4.97% stake in the Chinese aviation IT services provider to China Mobile Capital.

A stock market disclosure issued on December 15 said China Mobile Capital had agreed to acquire 145.5 million domestic shares in TravelSky held by the China Eastern Airlines (MU, Shanghai Hongqiao) parent. The value of the transaction was not disclosed although based on TravelSky’s end-of-day share price on December 15 (HKD18.78 (USD2.42)), it was in the region of HKD2.73 billion Hong Kong dollars (USD352 million).

Once the deal closes, China Eastern Air Holding…