China Eastern Airlines, nearly $ 5 billion in aid
Asian carrier reported heavy losses
Almost $ 5 billion. This is the amount that is about to be paid to Asian airline China Eastern Airlines (read also the article published by AVIONEWS); this sum of money is equal to 4.6 billion to be precise, the amount deemed adequate by four new investors of the Chinese airline to overcome the crisis triggered by the coronavirus. Among the same investors is China Life Investment Holding Limited, a company that is part of the state-owned China life insurance group: in this case, the amount will be 11 billion yuan (approximately 1.4 billion euros).
Another financially important contribution will be made available by Shanghai Jiushi Group, State-owned company of this nation too that is willing to pay another 10 billion yuan. Five billion yuan each will then be disbursed by the other two investors, namely China Reform Holdings and China Tourism Group. Beijing has long been mobilized to support China Eastern economically, diversifying as much as possible the various structures it owns. During the first half of 2020 (therefore the period from January to June last), carrier's losses were close to 9 billion yuan and even the rest of the year does not suggest better data.
AVIONEWS - World Aeronautical Press Agency