China Eastern Airlines quells Wuhan branch sale rumor

2009-03-26 Beijing

China Eastern Airlines has denied its rival, China Southern Airlines, will buy out its Wuhan branch. It was reported the Wuhan branch became CEA’s biggest loser to book RMB1.6 billion (approx. US$194 million) loss for 2008 and the parent was contacting ZNH to sell it. Top officials of ZNH Hubei branch said they never heard the issue and did not believe CEA Wuhan branch lost as much as US$194 million.