By Martin Mou
China Eastern Airlines Corp. has agreed to establish a joint-venture airline to tap into China's push to make the southern island province of Hainan a free-trade zone and tourism hub.
The state-owned airline will set up Sanya International Airlines with partners including Juneyao Airlines Co., Trip.com Group and two state-controlled firms based in Hainan, China Eastern said Sunday.
China Eastern will hold a 51% stake in the joint venture, while Juneyao and Trip.com will own 15% and 14%, respectively, it said.
Sanya International, named after the beach city of Sanya in Hainan, will help the company improve its strategic layout in southern China and competitiveness, China Eastern said.
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