CHINA EASTERN AIR SAID SET TO GET 2 BILLION YUAN FUNDING
Image : China Daily.
Beijing,China : China Eastern Airlines Corp. (670) expects to raise more than 2 billion yuan ($316 million) selling shares to its state-owned parent, according to two people familiar with the situation.
The offering will be bigger than similar sales by Air China Ltd. and China Southern Airlines Co. (1055) to their state-owned parents announced earlier this year, said the people, who asked not to be identified as the talks are private.
China has acted to help the nation’s big three carriers as they contend with slower traffic growth and an end to gains from currency appreciation. China Eastern, the nation’s second- biggest carrier by passenger numbers, said Sept. 5 it was planning a share sale to help pare debt.
11/09/2012 : Jasmine Wang / Bloomberg Business Week.
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