East Star Airlines may avoid bankruptcy thanks to a takeover offer from Shanghai YuField Industrial Co., which submitted its application along with airline stakeholder East Star Tourist Agency to the Wuhan court. Shanghai YuField is expected to lead a consortium that will purchase an 85% stake in the troubled carrier while original stakeholders East Star Group, ESTA and East Star Holding Co. will hold the remainder. CAAC forced the Wuhan-based airline to suspend operations in February owing ...

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