East Star Airlines may have found a white knight
An East Star plane readies for takeoff at Tianhe airport in Wuhan, Hubei province. Shanghai Yujie Industry Co is planning to invest 500 million yuan to restructure the cash-strapped airline. CFP |
SHANGHAI: With the bankruptcy deadline of July 3 fast approaching, cash strapped East Star Airlines filed a restructuring application in a local court at Wuhan on Monday, to stave off its forced liquidation. Sources said a little-known aviation material wholesaler Shanghai Yujie Industry Co may become its new strategic investor.
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