China Eastern, China Southern to invest in new Beijing airport

China Eastern and China Southern airlines have won approval from the National Development and Reform Commission of China (NDRC) to invest in Beijing’s new airport, which is expected to open in 2019. Shanghai-based China Eastern and Guangzhou-based China Southern will invest CNY13.2b ($1.9b) and CNY14.8b, respectively, in the yet-to-be-named airport in an effort to enhance their positions in the Beijing market. In July 2016, the Civil Aviation Administration of China announced the two carriers, along with other SkyTeam members, will move to the new airport, which is located Beijing's Daxing district. Beijing-based Air China and other Star Alliance member carriers are expected to remain at Beijing Capital Airport, which has a slot shortage.<br/>