Chinese airlines may get extra state funding
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The parent companies of China’s three largest airlines are expected to receive a total of CNY3.1 billion (US$453 million) from the central government to weather the economic downturn. According to a Shanghai Daily report, China National Aviation Co and China Southern Air Holding Co, the parents of Air China and China Southern Airlines, may each get CNY1.5 billion. China Eastern Air Holding Co, parent of China Eastern Airlines, may get CNY100 million, Shanghai Securities News was reported saying yesterday, quoted an unnamed source.
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