Air Transport World

Air China.(Asia/Pacific)

The Chinese flag carrier engaged Merrill Lynch and China International Capital Corp., a joint venture between state-run lender China Construction and Morgan Stanley, to help it prepare for an initial overseas offering that is expected to raise $500 million. Air China made small profits in 2001 and 2002, and despite the ravages of SARS it posted a slender profit in 2003, according to the official Economic Daily newspaper. …

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