China to lend financial support to Qantas Virgin Blue

first_img<a href=”” target=”_blank”><img src=”;cb=INSERT_RANDOM_NUMBER_HERE&amp;n=a5c63036″ border=”0″ alt=””></a> Source = e-Travel Blackboard: C.F China has emerged as a possible financial backer for Qantas, Virgin Blue and a number of other major European and US airlines. Both Qantas and Virgin have told The Herald Sun that Chinese banks had become a ready source of financial support, although they were reluctant to disclose the level of funding they received.Shanghai-based CBD Leasing will commit almost $US10 billion to finance future aircraft sales by major western manufacturers, the newspaper reported.The news follows an announcement by Qantas CEO Alan Joyce that the airline may raise air fares this year as demand for travel picks up.”In the domestic market in particular we saw air fares increase before Christmas, and we are hoping that will occur pretty soon with some of the international markets,” Mr Joyce said.Mr Joyce also told Bloomberg Television that the airline was set to make a record profit from its Frequent Flyer unit this year.last_img

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