Air China in fresh hope for take-off

The state-backed owner of Air China has bought back shares in the airline in a campaign to lift its share price above its initial offer price amid deteriorating investor demand.

China National Aviation Company, a holding company for three state-backed airlines including Air China, said in a statement that on Monday, the next trading day after its Friday's flotation, that it had bought 122.87 million A shares, or 1.11% of the airline.

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