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East Star faces bankruptcy, Air China ponders next move
East Star Airlines will go bankrupt because of its inability to pay off its debts, according to the Wuhan municipal government.
East Star's six debtors reportedly have asked the local court to liquidate the carrier, which suffered a CNY500 million ($73.1 million) operating loss last year. It is in arrears with both GECAS and Wuhan Tianhe International Airport and also is behind on its fuel and insurance payments (ATWOnline, March 25).