February 5, 2018 / 6:09 AM / 3 months ago

AIRSHOW-China's Okay Airways says seeking investment from foreign airlines

SINGAPORE, Feb 5 (Reuters) - China’s Okay Airways is inviting foreign airlines to take a stake in the privately owned carrier as it prepares for a possible stock market listing in mainland China in 2020-2021, the company’s president said on Monday.

Li Zongling told Reuters on the sidelines of the Singapore Airshow Aviation Leadership Summit that Okay Airways has held talks with airlines from Europe and Asia. He also said that the airline was seeking Chinese state investors this year as Beijing encourages closer ties between private and state firms.

He added that he expected local government subsidies that have encouraged Chinese airlines to launch numerous new routes from Chinese cities to overseas destinations to begin shrinking this year, saying that the country’s aviation regulator has expressed a lack of support for the practice. (Reporting by Brenda Goh Editing by Muralikumar Anantharaman)

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