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China Eastern to get more in aid
Published on: 2008-12-31
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China Eastern Airlines said on Tuesday it will get an additional four billion CNY, or about 580 million USD, capital injection from the government, the Wall Street Journal reported. The expected extra cash comes as China Eastern suffers millions of dollars in losses from fuel hedging and a sharp contraction in global aviation demand. But the tepid reaction of its share price to the government suggests traders and analysts expect the funding to provide only short-term relief while the outlook for the entire airline industry remains bleak.
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