China Eastern Airlines - Too big to fail

The Chinese Government has come to the rescue of one of its “big three” airlines. China Eastern has withered on the vine since Singapore Airlines’ failed takeover offer at the start of 2008. Effectively insolvent, China Eastern has been kept alive by locally sourced bank loans until the government last month stepped in with a USD440 million offer of support. [434 words]

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• China Eastern Airlines share price: 01-Dec-08 to 02-Jan-09