Nouvelles de Chine ! Plan de relance Aéro !

Bonjour

Un bon coup de main pour l'Industrie Aérienne ainsi que les Lignes Aériennes Chinoises !
Et China Eastern qui reçoit une injection de capital ...
Aprés avoir perdu déjà 900 Millions d $ dans les fuel hedging, et ce n'estpeut être pas fini !

--------------- Deux Articles de AFP-google com ! Extraits --------------

http://www.google.com/hostednews/afp/article/ALeqM5jK1XIMOfJ1La-DGqdvDJmGwp4lzg


BEIJING (AFP) — China announced Friday a huge loan package for its
main aircraft maker and tax breaks for its airlines, as further
evidence emerged of the industry's troubles amid the global economic
crisis.China Aviation Industry Corporation, the main state-owned
aircraft maker, said it had secured a pledge of up to 176 billion yuan
(25.7 billion dollars) in domestic bank loans."The credit quota
shows the financial sector has confidence in the high-tech strategic
aviation industry despite the current economic crisis," Lin Zuomin, the
company's general manager, was quoted as saying in the Chinese press.The
company will use the loan to finance the development of helicopters,
engines, cargo planes and the building of a passenger aircraft with up
to 149 seats with Canada's Bombardier, according to the report.In
a statement on its website announcing the deal that was signed on
Thursday, the company said the credit line may eventually rise to 250
billion yuan.Ten lenders, including the Industrial and Commercial Bank of China (ICBC), are involved.

-------------- Et !

http://www.google.com/hostednews/afp/article/ALeqM5h-7kWBvhptgOQ4BqbZW-HDQ0QnKw

[b]China Eastern Airlines to post 'significant loss' for 2008[/b]



6 hours ago
SHANGHAI (AFP) — China Eastern Airlines, the country's third largest
carrier, on Monday warned it expected to post a "significant loss" for
2008 due to fewer passengers and bad bets on fuel hedging contracts.The
company said it faced an unaudited loss of about 6.2 billion yuan (905
million dollars) alone due to fuel hedging contracts last year,
according to a statement filed with the Shanghai Stock Exchange.The statement said a "significant loss will be recorded for the company in 2008."The company is scheduled to release its annual results for last year in mid-April."A
pronounced global economic recession since the second half of 2008 led
to a drastic decrease in air transportation demand. As a result, the
civil aviation industry is facing an industry-wide crisis," China
Eastern said.The airline said last week the number of passengers
it carried in 2008 was down 5.4 percent from 2007 at 37.05 million as
the global economic crisis halted years of double digit growth.China Eastern posted a 2.3-billion-yuan loss in the first nine months of the year.Last
month it said it would receive a seven-billion-yuan capital injection
from the government, which would cut its debt-to-asset ratio to 90.1
percent from the 98.5 percent it stood at by the end of September.

----------- Et de AP, l'article -------------------

http://www.topix.net/content/ap/2009/01/china-eastern-fuel-hedging-loss-900-million

[b]China Eastern: fuel hedging loss $900 million [/b]


January 11, 2009

one of the country's largest carriers, said it faces a 'significant
loss' for 2008 after fuel price hedges turned bad to the tune of 6.2
billion yuan ($906 million). The costs associated with the wrong
way bets on jet fuel prices will be somewhat offset by lower fuel
costs, the airline said in a statement to the Hong Kong Stock Exchange
late Sunday. Crude oil prices plunged from about $147 a barrel in July
to about $45 a barrel at the end of last year. State-run China Eastern's actual cash loss from fuel hedging was $14.15 million as of the end of last month, it said. 'The
civil aviation industry is facing an industrywide crisis. In addition,
the fourth quarter is the traditional offseason for the aviation
industry. It is anticipated that the Company will suffer significant
operating losses in 2008,' it said. The carrier, based in
Shanghai, reported fuel hedging losses of 1.8 billion yuan in October.
The latest figures are about double analysts' estimates, the Hong Kong
newspaper South China Morning Post reported. Many airlines have been caught out by the reversal in oil prices in the second half of last year. Hong
Kong-based carrier Cathay Pacific Airways reported last week that it
could lose nearly $1 billion from hedging its jet fuel costs. Air China
earlier reported potential hedging losses of 3.1 billion yuan. Financially
troubled China Eastern reported an overall net loss of about 2.3
billion yuan in the first three quarters of 2008. It carried 5.4
percent fewer passengers in 2008 than in the year before. The
government is injecting 7 billion yuan into the carrier, and billions
more into other carriers, to help tide them through the crisis.

Béochien

Un sauvetage entre deux bateaux qui coulent par ...
Commente "le vent de Chine"
Curieux !
La Banque (d' état) de l'agriculture Chinoise sauve China Eastern !

-------------- L'Article / Le petit journal ....................

http://www.lepetitjournal.com/content/view/36743/1981/


Le sauvetage de la compagnie aérienne China Eastern de Shanghai par les banques d’Etat chinoises aura-t-il lieu ?

Dans l’attente d’une réforme de l’aviation d’Etat, on assiste à cette opération insolite : en convalescence après assainissement par l’Etat, la Banque de l’agriculture prête 15 milliards de yuans à China Eastern.

La plus fragile des quatre sœurs bancaires, «vole» au secours du plus malade des transporteurs aériens. Or ce prêt n’est pas destiné à investir, mais à honorer ses dettes à Airbus et Boeing, à pallier la chute de fréquentation, et éponger les dettes, suite à un pari perdu sur le cours du carburant.

Le prêt est bien imposé par l’Etat à la Banque de l’agriculture, en échange de son propre plan de relance. Le Trésor public a payé à China Eastern 7 milliards de yuans, et inspiré le prêt de 20 milliards de yuans par la Pudong Development Bank (bien obligée, vis-à-vis de l’autre firme de la mairie de Shanghai) et la Banque de la Communication.

Liu Shaodong, nouveau Président de China Eastern annonce sur son site, ravi : «aucun doute, avec une telle voilure, nous allons prendre une ascendante».

D’autant que la Banque de l’agriculture complète son bienfait, par une assistance technique, un financement de projet et une émission d’obligations. Mais le groupe qui perdra 11 milliards de dollars en 2008, entend se guérir par un remède de cheval : 256 mesures d’économies incluant dédit de commandes d’avions et ventes d’actifs. La question étant de savoir si cette mésaventure suffira à guérir le transporteur de sa tradition gestionnaire socialiste, gaspilleuse et lourde : il faudra sans doute plus que çà.

Eric Meyer de la rédaction du Vent de la Chine . 24 février 2009