SASAC to coordinate East Airlines, Mihui to start restructuring

Oriental Airlines Co., Ltd. (600115. SH; 0670. H K) and Shanghai Airlines Co., Ltd. (600591. SH) Reorganization offing. Shanghai Aviation Board Secretary Xu Junmin yesterday evening confirmed to reporters that China Eastern Airlines, China Airlines has begun to the reorganization of the relevant meetings.　　Other sources said that the State Council SASAC and Shanghai Sasac also participated in the coordination meeting, hoping to reach a preliminary opinion on the merger and reorganization of the two airlines. The Dow Jones news Agency quoted sources familiar with the reorganization as saying that China Eastern and the airline may have been restructured in a way that swaps the shares.　　But the news is not yet confirmed by the core of the deal. Yesterday, St East Airlines and *st on the airlines, such as market expectations, since the opening of both suspensions.　　China Eastern Airlines will issue a brief suspension announcement this evening, but it will not involve restructuring matters, Dong Hang said.　　Exchange-stock restructuring? Although the trader has not made a clear statement on the reorganization in public, Feng Xin, vice president of aviation, in Kuala Lumpur 7th, confirmed the news that China Eastern Airlines, China Airlines will start restructuring, "We received a government license on June 6, was allowed to merge." "According to the Dow Jones Disclosure deal, the swap is the first step in the Chinese government's efforts to eventually merge the two companies headquartered in Shanghai." Jinjiang International (group), which currently holds 23.62% per cent of Shanghai Airlines, will first transfer 17.05% per cent to Eastern Airlines ' parent company, China Eastern Airlines Group. The number of Eastern Airlines holdings in Shanghai Airlines is not yet finalized.　　At the same time, how to hold the Eastern Airlines stake is also not explained. Board of Directors Xu Junmin yesterday in the news to reporters confirmed that the reorganization of the matter after the meeting hurriedly hung up the phone. The telephone of Dong hang Dong Luo zhuping is still unable to be connected all day.　　Therefore, it is not yet possible to confirm the accuracy of the reorganization programme. On the disclosure of possible information, Citic Investment Securities aviation analyst Li Lei Analysis, now looks more like the transfer of equity, which is the most concise way to restructure.　　But if take the cross shareholding to need to involve the stock Exchange price question, the negotiation difficulty is relatively big. An aviation analyst at Shanghai Local brokerage, who did not want to be named, said there were few cases of swap swaps, except for the exchange of shares between Air China and Cathay. In April this year, Air China's media communications meeting, the Chairman Kong Dong said, and Cathay's cooperation with Cathay has benefited.　　Two airlines can make full use of the market resources of the mainland and Hong Kong to share the interests of both markets.　　Those who disclosed the swap plan were meant to create a more profitable airline and to strengthen Shanghai's position as an international aviation hub. Yesterday, China Eastern Airlines and the Shang Airlines in a A-share and Hong Kong stocks are all open suspension.　　China Eastern Airlines in Hong Kong issued a brief temporary suspension notice, two companies in the A-share market did not do business suspension instructions. Financial pressure still remain according to the Shanghai local brokerage, the State Council SASAC and Shanghai Sasac are hoping to complete the reorganization before the Expo, and choose to open the implementation of the reasons, may be with the early stage of injection will be in place, as well as the improved financial position of the two companies, has weakened one of the biggest hurdles to restructuring.　　The fair value loss of December 31, 2009 will be reduced by 4.4 billion yuan from December 31, 2008 If oil prices rise by 30% from the closing price of December 31, 2008, according to an indicative announcement of the aviation oil hedging business of the Eastern Airlines this February 28. Last week, the New York Mercantile Exchange's July oil contract topped the 70 dollar/barrel mark for the first time in six months. This means that the price of crude oil futures has risen by more than 50% in the December 31, 2008, China Eastern 2008 6.2 billion yuan of the hedging losses are basically washed back.　　Investment banks such as Goldman Sachs also expect oil prices to return to $85 a barrel this year. But the data released yesterday by the International Air Transport Association poured cold water on the upbeat airline industry, which adjusted the 2009 global airline financial forecasts to $9 billion trillion, almost doubling the 4.7 billion trillion losses estimated in March this year.　　Among them, the Asia-Pacific airline industry's biggest loss, will reach 3.3 billion U.S. dollars. Hainan Airlines Group chairman Chen Feng yesterday in Tianjin, said that although the aviation market in the first quarter performance "appears to be a sign of warmer," but the second half of the market is still a large number of variables, such as influenza A, can not predict the market trend. Newspaper reporter Dong Ji