OTHER NEWS - Dec. 14, 1992
From Times Staff and Wire Reports
Shanghai Airlines Seeks Foreign Investment: Shanghai Airlines is looking for foreign participation in a $200-million expansion plan, an official newspaper reported. The plan calls for buying two new passenger planes each year to expand its current fleet of three Boeing 757s to 18 planes by the year 2000, the China Daily’s Business Weekly reported. In August, the airline signed a preliminary agreement with Boeing to buy five 757s and five 767s by the year 2000. Last year, it agreed to buy five 757s, the first of which is to be delivered in June, the report said. Airline President He Pengnian said some foreign companies were interested in joint ventures with his firm, but he declined to offer details.
