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China Eastern Airlines plans RMB 10-bln bill issue

Apr. 28, 2012 (China Knowledge) - China Eastern Airlines Co Ltd<600115><0670>, the country's third-largest carrier, said Saturday that it plans to issue up to RMB 10 billion worth of super short-term bills.

The bills will have a maturity of not more than 270 days.

The air carrier said that the plan is still subject to approval from its shareholders.

China Eastern Airlines has reported a net profit of RMB 267 million for the first quarter, reflecting a decrease of 74% year on year, in part due to higher financial expense.

The company's operating revenue was RMB 19.32 billion in the first three months, up 6.4% from the same period of last year.

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