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HARD TIMES FOR CHINA AIRLINES AS IT SELLS AGING PLANE FOR SCRAP.
TAIPEI, March 1 Asia Pulse - Analysts say that the aviation industry has seen the worst of the economic slowdown, but things got so bad for China Airlines (CAL) (TAIEX:2610) after the Sept. 11, 2001 terrorist attacks in the United States that the Taiwan carrier had to sell one of its aging planes for scrap.
Wishing to upgrade its fleet, CAL planned to sell a 21-year-old Boeing 747-200 cargo plane for US$28 million last year. But CAL was forced to cut the price in half immediately after the ...
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