Looks like there's a power play going on in China.
A. China Southern with a potential equity in Qantas.
B. China Eastern launching the China United LCC based in Beijing.
C. China Eastern is the QF partner for the JQ Hong Kong Venture
D. Air China (has a cross share with Cathay), where Cathay has been fiercely opposed to JQ Hong Kong.
China Eastern & Southern are competitors, where the former is now setting up its own LCC & the third player (Air China) objects thru CX to the JQ HKG start up.