China may inject more funds into top airlines

8/1/2009 10:00:10 AM

China's state asset manager is considering whether to inject US$454 million more into the country's top three airlines after state-owned firms lost more than $4 billion in 2008 amid the global financial slowdown, Reuters reported. The State-owned Assets Supervision and Administration Commission under the State Council, China's cabinet, recently convened meetings to discuss the possible injection, but no timetable had been set. Under the latest plan, the government would inject around $219.5 million each into China Eastern Airlines and China Southern Airlines, and around $15 million into flagship carrier Air China.   Cargo News Asia

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