China Eastern Airlines is hoping to expand its media business into north China through a joint-venture subsidiary with AirMedia Group, said Zhang Xiaoping, director and general manager of the Beijing China Eastern Media Co., established on Wednesday.
"Beijing has surpassed other cities in the number of media and the potential clients. The upcoming Olympic Games would also bring in business opportunities," said Zhang at the launching ceremony of the joint venture.
The media business of the aviation giant increased by 40 percent last year, said Liu Jiangbo, vice president of the company.
The joint venture would be able to use the media resources of its parent companies, including the digital televisions on the Chinese airline giant's own planes that fly to more than 120 cities around the world.
It would also integrate part of the digital media network in air travel run by the Nasdaq-listed AirMedia that covered 52 major airports around China, including Beijing, Shanghai and Guangzhou.
China Eastern Airlines and AirMedia Group would hold 51 and 49-percent stakes respectively in the new joint venture. The cooperation was intended to last 15 years.
Source:Xinhua
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