China Eastern Airlines Corp. expects to benefit from the introduction of a sales tax in Shanghai. The carrier believes it will be included in the new system, Board Secretary Luo Zhuping said today by phone.
China Eastern Airlines Corp. dropped an order for 24 Boeing Co. 787 Dreamliners in favor of 45 smaller 737s after the larger jet’s delivery was delayed and a weakening economy hurt demand for long-haul air travel.
EVA Airways Corp. , Taiwan’s second- biggest carrier, agreed to invest 328 million yuan ($49 million) in China Eastern Airlines Corp.’s cargo unit as its mainland partner restructures freight operations following a takeover.
Premature fiscal austerity in Europe and the U.S. is pushing the global economy closer to a “deflationary spiral” that will choke consumption and leave millions of people without work, the United Nations said.
The Bloomberg China-US 55 Index of the most-traded Chinese equities in the U.S. rose to a two-month high as airline profits grew and the government signaled it will move to shore up growth. Online search engine Baidu Inc. surged 7 percent in after-market hours trading after third-quarter profit topped analyst forecasts.