CHINA: China Eastern group may get $292M aid

The parent of China Eastern Airlines may receive a further capital injection of US$292 million from the central government. The official Shanghai Securities News quoted China Eastern Air Holding deputy general manager Li Jun as saying that the injection, which would bring total government aid to $1.3 billion, still required approval from the authorities. It […]


The parent of China Eastern Airlines may receive a further capital injection of US$292 million from the central government.

The official Shanghai Securities News quoted China Eastern Air Holding deputy general manager Li Jun as saying that the injection, which would bring total government aid to $1.3 billion, still required approval from the authorities.

It also quoted Luo Zhuping, the listed company’s board secretary, as saying there was no timetable for receiving additional aid.

But an official at the parent group, however, rejected the report with China Eastern Air Holding vice president Liu Jiangbo telling Reuters that the airline had not received additional government aid and denied media reports on the matter.

China’s three big carriers, which also include China Southern Airlines and Air China, have all warned of losses for 2008.