China Eastern may receive injection

Shares of China Eastern Airlines were suspended Thursday on speculation that the carrier would soon receive a capital injection from Beijing, the South China Morning Post reported. China Eastern said its parent company intended to lower its debt level, adding that the details would be completed in 10 days. China’s main airlines have been hit by high fuel prices from earlier in the year and falling demand for air travel since August. The industry as a whole has lost US$613 million in the first 10 months of the year. China Eastern had planned to raise capital by selling a stake to Singapore Airlines, a deal that shareholders blocked after Air China’s parent company made a better offer, which China Eastern management later rejected. China’s civil aviation regulator has ordered domestic airlines to delay delivery for new aircraft and halt approvals for new purchases.