Chinese carriers may get government help
The Chinese government will inject CNY3 billion (US$439 million) each into China Eastern Airlines and China Southern Airlines this year, Bloomberg has reported. Citing a report in the Oriental Morning Post, Bloomberg said that China’s money-losing airlines have asked the government for help to offset slowing demand and higher fuel prices.
The airlines however moved to dispel the rumour. “(We) have been seeking capital injections from the government, but no result can be confirmed at the moment,” China Eastern’s Board Secretary, Luo Zhuping, said told Bloomberg. China Southern was available for comment.
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