Kathmandu, Sept. 30 -- Himalaya Airlines announced on Sunday that it had ended its five-year-long partnership with Tibet Airlines and had signed a new partnership agreement with Tibet Civil Aviation Development and Investment, a fully Chinese government-owned undertaking.

Vijay Shrestha, vice-president of administration of Himalaya Airlines, said that the deal with Tibet Civil Aviation Development and Investment had been completed, and that they had started the formal process to obtain foreign direct investment approval from the Department of Industry.

Shrestha said there were no changes in the share structure. Tibet Civil Aviation Development and Investment will hold a 49 percent stake in Himalaya Airlines while Yeti World Investment, ...