China Eastern Airlines signed a five-year, CNY590 million ($86.3 million) sale and leaseback contract with Bank of Communications Finance Lease Co. for two A340s. The aircraft, delivered in 1996, will be leased back for CNY17 million per quarter. "We can not only improve our cash flow and reduce debt ratio by a sale and leaseback of these two A340s but we also can optimize our fleet makeup," CEA Board Secretary Luo Zhuping explained. He said CEA's high debt ratio remains its biggest problem. ...

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