Shanghai Airlines (FM, Shanghai Hongqiao) has agreed to sell a skyscraper to Shanghai Eastern Air Real Estate for CNY134.29 million yuan (USD19.3 million). The China Eastern Airlines (MU, Shanghai Hongqiao) subsidiary signed the agreement on January 19 to transfer the 5,156-square-metre structure in Shanghai's Jing'an District. The buyer is a wholly owned subsidiary of Eastern Air Assets Investment Management, a sister company of the carrier within the China Eastern Air Holding. The divestment aims to "revitalise existing assets" and concentrate resources on the carrier's core aviation business.