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China Eastern capital raising through private placement approved

17-Nov-2009

China Eastern Airlines received regulatory approval to raise approximately CNY7 billion (USD1.0 billion) through a private placement, in a bid to return its net assets to positive territory, before the completion of its merger with Shanghai Airlines. [1017 words]

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Subheadings:

  • China Eastern and Shanghai Airlines just about into positive territory in 3Q2009
  • Fuel Hedging still under the microscope – despite a successful hedging year
  • New base in the Yangtze delta to rapidly expand
  • While new route and fleet elements are added
  • China Eastern chooses e-business transformation partner
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