Airlines perk up on reports of govt aid
By Wang Ying | China Daily | Updated: 2008-11-18 08:05
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Workers walk past China Eastern Airlines Corp planes at the Shanghai Hongqiao International Airport. Bloomberg News |
SHANGHAI: Bolstered by a media report that two of China's leading airliners will get a cash injection from the central government, airline shares posted a sharp rally yesterday, with Air China, China Eastern Airlines, China Southern Airlines, Shanghai Airlines, and Hainan Airlines all hitting their upper trading limits of 10 percent on the Shanghai Composite Index.
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