China Eastern’s astonishing 4Q loss (USD1 mill per hour), more aid for China Southern - SHARE WRAP

China Eastern Airlines lost close to USD1.9 billion in the three months ended 31-Dec-08 - or more than USD20 million per day (close to USD1 million per hour), according to The Centre's calculations. Propped up by a government cash injection late last year and massive new lines of credit from Chinese banks this year, China Eastern's outlook is for a 15% improvement in passenger numbers (off last year's low base), but more red ink is likely to flow as competition remains intense.