China Eastern to raise US$2.4 billion


China Eastern to raise US$2.4 billion

China Eastern Airlines plans to raise up to 15 billion yuan (US$2.4 billion) in a share sale to fund aircraft purchases and repay loans.

The carrier said in a statement to the Hong Kong stock Exchange that it plans to buy 23 aircraft, a mix of Airbus A321s, Boeing 737-800s and 777-300ERs.

The stock sale is subject to approval by China’s regulators and shareholders, according to the statement. China Eastern shares are traded on both the Hong Kong and Shanghai exchanges.


Please enter your comment!
Please enter your name here