Six creditors have sent applications for the bankruptcy of East Star, one of China's private airlines, to the Intermediate People's Court in Wuhan City, capital of Hubei Province.
Authoritative sources said Friday East Star will most likely go bankrupt as it faces huge losses and cannot handle the current difficulties itself.
East Star has had losses of about 500 million yuan (about US$73 million), according to auditors. It suspended operation on March 15.
(Xinhua News Agency March 27, 2009)
