Shanghai-based Juneyao Air has announced that it has increased its stake in subsidiary LCC 9 Air from 83.3% to 95.2%. Juneyao Air expressed its interest to acquire the 11.9% share held by minority shareholder Yili Resources Group in a cash transaction worth CNY180 million ($25.5 million). The carrier added that its increased stake in 9 Air can help improve the decision-making process, optimize corporate governance of the company and enhance the LCC’s profitability in a sustainable ...

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