No stake offered to Singapore Air: CAL

Taipei Times
5 Mar 2008
Jerry Lin and Kevin Chen

China Airlines Ltd (CAL, 中華航空) shares rose sharply yesterday amid rumors that it had offered a 25 percent stake to Singapore Airlines Ltd, although CAL later denied the claim. Share prices also gained after the airline confirmed it has begun to raise ticket prices on major international routes because of soaring fuel costs.

CAL shares closed limit-up at NT$18.7 (US$0.60) on the Taiwan Stock Exchange. CAL has seen its stock price jump 24.26 percent since the Jan. 12 legislative polls.

"Singapore Airlines has not contacted with us [about a stake purchase] ... this was simply a market rumor," CAL spokesman Bruce Chen (陳鵬宇) said in a phone call.

>>>> More