Air China 'drops NY listing plans

Flag carrier Air China has scrapped plans to list in New York and may instead opt for an IPO in London, Dow Jones newswires reported. The agency said the listing, expected to raise some US$500 million would take place in Hong Kong and another major global market either late this year or in early 2005. A source quoted by the agency gave no details as to why the New York listing plans were abandoned, but said things "might still change."