Operating in totalitarian societies where the rule of law is fluid can be a tenuous existence even when you're not trying to go up against state owned assets during an economic downturn. So goes the story of East Star Airlines - the only Chinese airline to ever go bankrupt. Was it misfortune or something more machiavelian that did for China's 4th private airline?
"The A320 family aircraft is no doubt the best choice for our new airline. Its unmatched low operating costs with the highest level of passenger comfort will help us take off smoothly and successfully. We are very confident that by flying the best-selling aircraft in the world, we will not only ensure a good beginning of profitable operation, but also high standards of service quality for passengers on domestic routes in China.
East Star Airlines Rises From Hubei. Air Cargo News
2005, Nov 29. New Chinese airline East Star to introduce 20 Airbus A320s. CAPA
East Star’s Lan Shili: ‘Entrepreneurs Have to Be Bold to Do Big Things’. Knowledge @ Wharton
2007, July. China's East Star Airlines wins international opg license - report. CAPA
2009, March. Air China to buy East Star. Air Cargo News
2009. China's East Star Air Faces Liquidation. Global Insolvency.com
2009. East Star Airline goes bankrupt with huge debts. China.org.cn