The Chinese government plans to inject US$2.05 billion into its three major airlines to make up for higher fuel costs and cut debt, the Wall Street Journal reported. Quoting a person familiar with the plan, the newspaper said Air China's parent company, China National Aviation Holding Co, would get US$380 million; China Eastern Air Holding, parent of China Eastern, would get US$842 million; and China Southern Air Holding, which owns China Southern Airlines, would get US$847 million. The money would help China Eastern and China Southern deal with debt they assumed after taking over smaller airlines during an industry consolidation phase in 2002. It wasn't clear whether the State Council had approved the plan, the newspaper reported.
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