InfoAnda - Two China airlines to get govt aid: state media

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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Two China airlines to get govt aid: state media AFP - Monday, November 17 BEIJING (AFP) - - The parent companies of China Eastern Airlines and China Southern Airlines are expected to each get three billion yuan (440 million dollars) to tide them over hard times, state media reported Monday. The two carriers will likely get the money to offset the adverse impact of weakening demand and high fuel costs, the Shanghai Securities News said, citing unnamed sources. A number of other firms controlled by the central government are also likely to receive cash injections, the paper reported, without saying which. China's three major airlines have had a bad year, with China Eastern posting a 2.3 billion yuan loss in the first nine months, while Air China was 657 million yuan in red in the same period. China Southern had 28 million yuan in profit for the first three quarters but it lost 810 million yuan from July to September, the report said. China Eastern's debt-to-equity ratio has exceeded 98 percent while that of China Southern has reached more than 80 percent, the newspaper said. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy China may legalise unofficial banks: reportAFP - 7 minutes ago Emerging debt-Asia bond spreads widen as recession spreadsReuters - 45 minutes ago Singapore could see negative growth in 2009, PM warnsAFP - 1 hour 22 minutes ago Asian stocks mixed as Japan slips into recessionAP - 1 hour 39 minutes ago Related Articles: Business China may legalise unofficial banks: reportAFP - 7 minutes ago India Infosys says currency moves to impact Q3 revReuters - 23 minutes ago Arianespace sees 2009 sales steady; eyes MideastReuters - 23 minutes ago Japan firm recalls 8 mln bottles US mineral waterReuters - 26 minutes ago JGBs rise, repo rate dip helps short-term bondsReuters - 28 minutes ago Enlarge Photo Two China airlines to get govt aid: state media Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed US space-funeral company plans to launch lunar cemetery Obama thinking big, despite crisis Prince Charles wants to speak out as king: biographer Earth would be heading to a freeze without CO2 emissions Democrats face White House opposition to new economic plan View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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