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BIZCHINA> Reports
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China Eastern Airlines cuts investment to curb losses
(Xinhua)
Updated: 2009-04-16 15:53 China Eastern Airlines has announced that it has slashed costs and investments by more than 800 million yuan ($117.09 million)in the last four months to offset huge losses last year.
However, the company would encourage staff aged 57 or over to retire, but the details of the plan had yet to be finalized, said Li.
The company had also suspended 29 investment projects with a total value of 3.15 billion yuan, including establishing a branch company in Tibet. "There is little room in further cost cutting, but we will try to increase income by expanding our market share," said Li... The full text is available in the April Issue of Logistics China. Please visitpublications for more subscription details. (For more biz stories, please visit Industries)
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