China Eastern Airlines is expected to receive a further CNY2 billion ($294 million) capital injection from the Chinese government to help the struggling carrier survive. The Shanghai-based carrier was allocated CNY7 billion from Beijing at the end of 2008, which was approved by minority shareholders in February and is awaiting approval from the China Securities Regulatory Commission. "Our biggest problem is insolvency. We would have gone bankrupt if we hadn't received [the] capital ...

Subscribe to Access this Entire Article

"China Eastern likely to get another CNY2 billion from Beijing" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.