The airlines is closing in on selling a minority stake to a foreign strategic investor, with a deal likely to be sealed in the first half of this year.
ST Engineering faces increased competition from jet and engine manufacturers in offering maintenance packages to airlines.
The financing represents a key test for the airline, which was taken over by Malaysian sovereign wealth fund Khazanah Nasional in December 2014.
Juneyao Airlines and its controlling shareholder Juneyao Group are expected to own more than 5 percent stake in China Eastern
The flamboyant CEO, who co-founded AirAsia in 2001 with two aircraft, announced plans for an IPO for the India unit in January.
Temasek would likely emerge as only a minority holder in the Hong Kong airlines.
“The biggest asset is our data,” AirAsia chief Tony Fernandes said in an interview. “And we’re going to monetise that data over a series of joint ventures in three kinds of pools.” That includes turning its loyalty programme points into a more formal currency through an initial coin offering, building a bigger logistics business and growing its content offering.
Cathay owns 60% of Air Hong Kong, with Deutsche Post AG unit DHL International holding the remainder.
It is about 90% owned by Singapore Airlines, Etihad, Virgin Group, HNA and China’s Nanshan Group.
JPMorgan has added four new analysts to its technology and one each for infrastructure and energy teams.