China Eastern Airlines looks to raise US$2.2 bn through share sale

China Eastern Airlines, China’s second-largest carrier by passenger numbers has announced in a filing to the Shanghai Stock Exchange that it is looking to raise US$2.23 billion through a share sale. The revenue raised will be divided between asset acquisitions and increasing working capital. Approximately US$1.78 billion will be used to fund the acquisition of 38 aircraft which will be delivered between 2022 and 2024. The planes on order are four COMAC C919s, 24 ARJ21-700s, six Airbus A350-900s and four Boeing 787-9s which currently have a list value of US$4.38 billion. In addition, China Eastern Airlines will be looking to Read more
