Boeing, next to be hit?

[touchring]

China Eastern Grounds 10% of Aircraft as Travel Demand Declines

Nov. 11 (Bloomberg) -- China Eastern Airlines Corp., the country's third-largest carrier, is taking about a tenth of its fleet out of service as the global economic slowdown crimps travel in the world's most populous nation.
The airline has grounded more than 20 planes as it cuts unprofitable routes, Board Secretary Luo Zhuping said by phone yesterday. The Shanghai-based carrier has also formed a management team to study further cost cuts and the effects of the financial crisis.
China Eastern joins AMR Corp.'s American Airlines and UAL Corp.'s United Airlines in grounding planes as the global economic slowdown spreads to Asia, damping demand for business and leisure flights. The airline, which has 15 times more debt than equity, slumped to a record third-quarter loss after carrying fewer passengers and paying more for fuel.




http://www.bloomberg.com/apps/news?p...xYE&refer=home

[GRG55]

Re: Boeing, next to be hit?

China Eastern Grounds 10% of Aircraft as Travel Demand Declines

Nov. 11 (Bloomberg) -- China Eastern Airlines Corp., the country's third-largest carrier, is taking about a tenth of its fleet out of service as the global economic slowdown crimps travel in the world's most populous nation.
The airline has grounded more than 20 planes as it cuts unprofitable routes, Board Secretary Luo Zhuping said by phone yesterday. The Shanghai-based carrier has also formed a management team to study further cost cuts and the effects of the financial crisis.
China Eastern joins AMR Corp.'s American Airlines and UAL Corp.'s United Airlines in grounding planes as the global economic slowdown spreads to Asia, damping demand for business and leisure flights. The airline, which has 15 times more debt than equity, slumped to a record third-quarter loss after carrying fewer passengers and paying more for fuel.




http://www.bloomberg.com/apps/news?p...xYE&refer=home

Dubai's financial position has deteriorated to the point that Abu Dhabi is apparently going to help them out by taking a stake in Emirates Airline. Abu Dhabi has its own airline, Etihad, and these two carriers, along with Qatar Airlines are the lifeblood of Airbus' order book. Looking grim...

[tastymannatees]

Re: Boeing, next to be hit?

I just took a minor hit- Paid for a custom couch hunt galleries SC two weeks ago and just got the Chapter 7 notice in the mail. Lost $2,000 on that trade-

Cash and carry from here on out for me...