Why does East Star Airlines have to die?

Due to poor management and financial crisis, huge debts began to be defaulted at the end of 2008, which even affected flight safety.

1, apparent reason

In 2008, the price of jet fuel soared, and the main business of East Star Group, tourism and real estate, suffered heavy losses in the financial crisis. Many domestic and foreign airports, GECAS and other foreign-funded companies and financial institutions in the United States pursued debts from Dongxing, which led to the break of the capital chain of Dongxing Group, the breakdown of merger and reorganization negotiations with Dongxing, and forced to stop flying.

The financial situation of East Star Airlines in 2009 has been very pessimistic. From the beginning of 2005 to the beginning of 2009, East Star Airlines has never paid any fees, including landing fees, passenger clearance fees, house rental fees, etc. And East Star Airlines probably owes a total of 60 million. In addition to Hubei Airport, Hangzhou, Shenzhen, Yunnan Airport and Cao also claimed that East Star Airlines owed huge debts.

09.3. 12, six American companies, including GECAS, which took the initiative to show goodwill to East Star Airlines, hired lawyers in Beijing and applied to Wuhan Intermediate People's Court as creditors to implement the bankruptcy of East Star Airlines. Wuhan held a special meeting and revealed that East Star Airlines had lost 500 million yuan.

2, the root cause

The tight capital chain is the initial and fundamental reason for a series of events in East Star.

Lan Shili's niece Lan Jianmin broke the news that the bankruptcy of East Star Airlines Co., Ltd. (hereinafter referred to as East Star Airlines) was "caused by Yuan Shanla's own selfish desires. In order to recover the debt lent to Lan Shili by the underworld loan sharks, Yuan manipulated behind the scenes and sold East Star Airlines at a low price. The "death" of East Star Airlines was directed by the black hand behind the scenes.

Yuan Shanla forced Lan Shili's niece to borrow usury from Xie Xiaoqing, the leader of the underworld organization. This loan will send East Star Airlines to hell. Since 2007, the tight capital chain of East Star Airlines has been increasingly exposed, and Lan Shili began to negotiate with Goldman Sachs.

However, East Star Airlines has not finished the process of multiple approval departments, and the financial crisis has suddenly come, and Goldman Sachs can't be immune to it, and cooperation will go away. East Star began to look for funds everywhere, facing the danger of capital chain fracture.