Approval signals takeoff for new airlines
Updated: 2013-05-21 16:42
By Wang Wen (chinadaily.com.cn)
China's aviation authority approved two new airlines in May, ending its policy of not granting approval to any airline.
The Civil Aviation Administration of China approved an application on May 17 for Qingdao Airlines Co Ltd, which will have 1 billion yuan ($163.1 million) in registered capital.
Three companies in Shandong province will invest in the new airline and staff members will be picked from Shandong Airlines Co Ltd, which is one of the shareholders.
The approvals signaled the end of the authorities' prohibition against new airlines, which was announced in 2007.