China Eastern Airlines has received approval from the China Securities Regulatory Commission for a private placement to renew its fleet. The Shanghai-based carrier said it would circulate 2.33 billion A shares at CNY6.44 ($.98) per share to no more than 10 investors so it could collect about CNY15 billion. Of that, China Eastern would spend CNY12 billion on 28 aircraft; the remainder, CNY3 billion, would pay off financial loans. The carrier will focus on four types of aircraft—Airbus ...

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