East Star Airlines was forced to suspend operations Sunday by CAAC owing to its heavy debt burden and the collapse of a stake sale deal with Air China parent CNAC. It is the second privately held Chinese carrier to suspend service in recent months. Okay Airways stopped flying in December (ATWOnline, Jan. 19) but resumed operations the following month (ATWOnline, Jan. 26). Wuhan-based East Star has been in financial crisis since last year. In June, CAAC suspended its right to fly to Shanghai, ...

Subscribe to Access this Entire Article

"East Star suspends operations as CNAC sale falls through" 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.