East Star Airlines may become the first Chinese carrier to go bankrupt following the Wuhan local court's rejection of China Equity Group's re-launch plan (ATWOnline, Aug. 26). CEG Chairman Wang Chaoyong said the lack of an agreement on how to handle East Star's sizeable debt was the reason for the rejection. The troubled airline owes money to China National Aviation Fuel Co. and several airports. "The team charged with East Star's restructuring [composed mainly of government officials] want ...

Subscribe to Access this Entire Article

"Other News - 08/27/2009" 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.