Qantas Airways Ltd, Shanghai-Based China Eastern Airlines Corp and local partner Shun Tak Holdings Ltd each own a third of the $US198 million ($A257.14 million) venture. Shun Tak joined the venture about a year after it was first announced in an attempt to win regulatory approval.
SBS
Really, would a Hong Kong tribunal cause the losses of two thirds of well connected local investors money? They were just placeholders & fronts for QF, for which they willingly clipped the ticket.
What is going to be interesting is to see how much of a loss Qantas actually recognizes when this failed venture is eventually liquidated. The question is where did Shun Tak and China Eastern actually get the capital from? Was is ultimately a loan from QF? This will likely to be the first snapshot into the true extent of QF's liabilities in the Asian Franchise experiments. My guess is close to 100%.