Air China to seek New York, Hong Kong listing in H1 2002: China Daily

BEIJING (AFX-ASIA) - Air China is to seek a listing in New York and Hong Kong in the first half of 2002, and wants international advisers to value its assets, vice president Ma Xulun said, according to the China Daily. 

	    The company is also discussing co-operation with several major international airlines and could make an announcement on the issue later this year, the newspaper said, citing Air China sources. 

	    However, Wei Zhenzhong, an Air China official overseeing the company's planned merger with China Southwest Airlines and China Aviation Group, told the newspaper the company would need more time to prepare for the listing in view of the pending restructuring.

	    He said Air China wants to combine the cargo businesses of the three airlines into a new group and list it overseas. 

	    "We have to merge the three airlines first before we can discuss any listing issues," he said.

	    Li Jinlin, head of the cargo division, said he believes the division could make a profit if it operated independently of the passenger business. 

	    The newspaper also cited other Air China sources as saying the company could list one of its subsidiaries, possibly the ground services company, in the near future.

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