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Ailing carrier gets more aid as 'next step'

Business | Airlines and airports
2009-3-10

CHINA Eastern Airlines Corp's parent won an extra 2 billion yuan (US$292 million) in aid from the government, raising the carrier's total bailout to 9 billion yuan. The carrier will get the funds as "the next...

China Eastern will cut hedging

Business | Airlines and airports
2009-2-19

CHINA Eastern Airlines Corp, the nation's third-largest carrier, will cut fuel-hedging positions this year after losses from wrong-way bets on prices widened to about 7 billion yuan (US$1.02 billion), a company executive...

Parent Offers Credit Lifeline To Carrier

Business | Airlines and airports
2009-1-16

CHINA Eastern Airlines Corp, the nation's third-largest carrier, said it will receive a 5.55-billion-yuan (US$811 million) short-term loan from its parent. The six-month loan will be used as working capital by...

Hedging losses, now warning of earnings drop

Business | Airlines and airports
2009-1-12

CHINA Eastern Airlines Corp, the nation's third-largest carrier, said it lost around 6.2 billion yuan (US$906 million) on fuel hedging contracts and warned it will post a "significant" loss in earnings. Fair-value...

Air passengers go missing

Business | Airlines and airports
2009-1-10

CHINA Eastern Airlines Corp, the nation's third-largest carrier, reported the first drop in annual passenger numbers in at least nine years, hurt by natural disasters and a slowing economy. The carrier flew 37.1...

Sale of new shares hits airline

Business | Airlines and airports
2008-12-31

CHINA Eastern Airlines Corp, the nation's third-largest carrier, fell the most in a month in Hong Kong trading yesterday after expanding a sale of discounted new shares to its state-owned parent. The company will...

Carrier secures more rescue aid

Business | Airlines and airports
2008-12-30

CHINA Eastern Airlines Corp, the nation's third-largest carrier, more than doubled the financial aid it has secured from the government as the money-losing airline battles to cut debts. The company will raise...

Airline in cost-cuts bid

Business | Airlines and airports
2008-11-12

CHINA Eastern Airlines Corp is bidding to cut energy consumption by 6.79 percent this year to save costs. In the first 10 months of this year, the Shanghai-based carrier consumed nearly 3 million tons of standard...

Airline deal

Business | Airlines and airports
2008-10-15

CHINA Eastern Airlines Corp may buy a 60 percent stake of its smaller rival Shanghai Airlines Co, China Business News said, citing unidentified people in the industry. China Eastern may get a capital injection from...

'Greater loss'

Business | Airlines and airports
2008-10-11

CHINA Eastern Airlines Corp, the country's third-largest carrier, said yesterday it may post a "greater loss" in net profit for the first nine months because of a slowing aviation market and rising fuel costs. The...