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China Eastern Airlines Expands Cooperation with GE
China Eastern Airlines Co. Ltd. Saturday signed a cooperation agreement with General Electric (Xiamen) Co. Ltd.
According to the agreement, China Eastern Airlines will hold a 30-percent stake in the GE Xiamen company and become the company's second largest shareholder.
Also, all the airlines' engine repair contracts will be given to the GE Xiamen company, according to the agreement.
Both sides highly value this cooperation, saying that this will help increase GE's business in China and at the same time decrease the airline company's plane engine repair costs.
China Eastern Airlines is one of the three major airlines in China.
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