China Eastern Airlines

China Eastern Airlines hopes to offset the impact of heavy losses for 2008 by selling off its stakes in certain units and cutting orders for new planes, the Wall Street Journal reported. Liu Shaoyang, the company chairman, admitted that the chances of turning a profit this year are still slim. The airline’s target is to […]


China Eastern Airlines hopes to offset the impact of heavy losses for 2008 by selling off its stakes in certain units and cutting orders for new planes, the Wall Street Journal reported. Liu Shaoyang, the company chairman, admitted that the chances of turning a profit this year are still slim. The airline’s target is to “substantially stem losses” in 2009 with a view to returning to profitability within three years. China Eastern will sell part of its 40 per cent stake in cargo jointventure Joy Airlines to Aviation Industry Corp, its partner in the venture. TheYunnan provincial government may sinkcash into China Eastern’s wholly-ownedYunnan unit.