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News Summary: Tycoon Ho buys stake in HK airline

The Associated Press

HIGH FLIER: Asian casino tycoon Stanley Ho's transport company is buying a stake in a budget airline that Qantas and China Eastern Airlines are setting up in Hong Kong.

TAKING OFF: Australia's Qantas Airways and Shanghai-based China Eastern said last year that the $198 million venture would serve swelling numbers of Chinese travelers.

HO'S CUT: Ho's Shun Tak Holdings Ltd. is paying $66 million for a third of the new venture that will fly under the Jetstar brand.