The Chinese government injected an additional CNY4 billion ($584.5 million) into China Eastern Airlines on top of the CNY3 billion provided last month in an effort to help the carrier work through its financial difficulties. The Shanghai-based airline plans to sell nonpublic shares to its parent China Eastern Air Holding Co. in order to reach the CNY7 billion total (ATWOnline, Dec. 11, 2008). The holding company's stake in CEA will rise to 74.6% from 59.7%. The carrier expects to reduce its ...

Subscribe to Access this Entire Article

"China Eastern gets additional CNY4 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.

Already registered? here.