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China Eastern fraying the structure of Mainland aviation, gobbles up USD3.3 billion more debt

22-Jan-2009

Asia’s weakest carrier, China Eastern Airlines, has gone further into debt and commenced the process of selling assets and deferring capital expenditure as it strives to avert financial collapse. The seriousness of the situation was underscored by this month’s emergency short-term loan of USD813 million from parent, China Eastern Air Holding Company (CEA Holding). [1137 words]

Unlock the following content in this report:

Subheadings:

  • Aims to defer deliveries, sell stakes in subsidiaries
  • Traffic slump continues in Dec-08
  • Some post-Olympics improvement
  • Outlook: Too important to let fail?

Graphs and data:

  • China Eastern Airlines passenger number growth and cargo volume growth: Jan-08 to Dec-08
  • China Eastern Airlines passenger number growth by international and domestic: Jan-08 to Dec-08
  • China Eastern Airlines passenger load factor by international and domestic: Jan-08 to Dec-08
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