China Airlines Ltd, Taiwan Province's largest airline by revenue, said Wednesday it will take a 7.5 percent stake in a new aircraft maintenance joint venture based in Fujian Province.
The new company, Taikoo Spirit AeroSystems Composite Co, is scheduled to begin operations in early 2009 and has registered capital of $8.48 million, China Airlines said in a statement.
Hong Kong-based Cathay Pacific Airlines Ltd will also hold a 7.5 percent stake in the venture. Other partners include Hong Kong Aircraft Engineering Co, Taikoo Xiamen Aircraft Engineering Co, and Spirit AeroSystems Holding Inc, China Airlines said.
The airline didn't elaborate on the stakes of the other partners.
The new firm is the Taiwan carrier's second aircraft maintenance joint venture. China Airlines bought an 8 percent stake in Taikoo (Xiamen) Landing Gear Services Co last year.
