<\/p>\n<\/a><\/p>\n
The announcement came after Korean Air said in June it was in talks with Okay on a possible joint venture.<\/p>\n
Korean Air will finalize pricing, acquisition terms as well as timing after due diligence, KAL said in a statement.<\/p>\n
Under Chinese law, a foreign company is allowed to buy a stake of up to 25 percent in a Chinese airline, while the combined stakes held by foreign investors are limited to 49 percent, the statement said.<\/p>\n
Okay Airways, based in the northern Chinese city of Tianjin, started flights early this year. It subleased its first two Boeing 737-900s from Korean Air.<\/p>\n","protected":false},"excerpt":{"rendered":"
Korean Air says it has signed a preliminary agreement to take over China's new budget airline, Okay Airways. The announcement came after Korean Air said in June it was in talks with Okay on a possible joint venture. Korean Air will finalize pricing, acquisition terms as well as timing after due diligence, KAL said in […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12723],"tags":[],"class_list":["post-34681","post","type-post","status-publish","format-standard","hentry","category-english"],"_links":{"self":[{"href":"https:\/\/www.chinahospitalitynews.com\/cn\/wp-json\/wp\/v2\/posts\/34681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chinahospitalitynews.com\/cn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chinahospitalitynews.com\/cn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chinahospitalitynews.com\/cn\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chinahospitalitynews.com\/cn\/wp-json\/wp\/v2\/comments?post=34681"}],"version-history":[{"count":0,"href":"https:\/\/www.chinahospitalitynews.com\/cn\/wp-json\/wp\/v2\/posts\/34681\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.chinahospitalitynews.com\/cn\/wp-json\/wp\/v2\/media?parent=34681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chinahospitalitynews.com\/cn\/wp-json\/wp\/v2\/categories?post=34681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chinahospitalitynews.com\/cn\/wp-json\/wp\/v2\/tags?post=34681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![](\"http:\/\/www.chinahospitalitynews.com\/images\/20050624-okairways.gif\")
Korean Air says it has signed a preliminary agreement to take over China's new budget airline, Okay Airways.<\/p>\n