China Eastern Airlines, one of China’s major carriers, announced on December 29 that it has received a total capital injection of 7 billion yuan from the government, which is more than double the size of the 3 billion yuan bailout announced earlier. The company said it will inject capital into its holding company, China Eastern Air Holding Company, by issuing more A and H shares. The government aid is expected to improve China Eastern’s financial position and reduce its net debt-to-asset ratio.

Related article in English: China Eastern to Get More Government Aid