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Former head of major Chinese airline under graft investigation

Former head of major Chinese airline under graft investigation

BEIJING: The former head of China Eastern Airlines is under investigation over corruption allegations, two Chinese anti-graft bodies said Saturday.
Liu Shaoyong, who headed the airline from 2009 until his resignation in 2022, is being investigated for "serious violations of discipline and law", the Central Commission for Discipline Inspection and the National Supervisory Commission said in a statement.
The Shanghai-based airline, primarily owned by the Chinese government through its parent company, is one of the three largest Chinese airlines.
Liu was credited with turning the carrier around after it posted record losses before he was appointed.
China Eastern Airlines under his leadership merged with Shanghai Airlines and joined the SkyTeam airline alliance, strengthening its position in domestic and international markets.
Liu also led another one of China's major airlines, China Southern, before taking the reins of China Eastern.
Chinese President Xi Jinping has waged an unrelenting crackdown on corruption since coming to power over a decade ago.
Proponents say the policy promotes clean governance but others say it also serves as a means for Xi to purge political rivals.

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Torrent to buy 46.39 pc stake in JB Chemicals for Rs 11,917 crore
Torrent to buy 46.39 pc stake in JB Chemicals for Rs 11,917 crore

Indian Express

time14 minutes ago

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Torrent to buy 46.39 pc stake in JB Chemicals for Rs 11,917 crore

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