Qingdao Airlines (QW, Qingdao Jiaodong) shareholder Shandong Airlines (SC, Jinan) says it will dispose of its 20% stake in the carrier via a public listing. While the identity of the proposed purchaser has yet to be disclosed, the equity has been linked to New Nanshan International Holdings Ltd., a subsidiary of Qingdao Air's largest shareholder, Nanshan Group, which is in the process of taking the airline private.

Shandong Airlines has valued the shareholding at at least CNY200.8 million (USD31.4 million).

State-backed Qingdao Transport Development Group Co. announced plans to dispose of its 25% stake in the airline for CNY251 million (USD40.4 million) last month.

Qingdao Airlines will rebrand as Newloong Air (Qingdao Jiaodong) once its transformation is completed.