China Eastern Airlines (MU, Shanghai Hongqiao) will extend CNY20 billion yuan (USD3 billion) in perpetual debt financing from its controlling shareholder, China Eastern Air Holding, for another three years, it said in a November 4 filing. The agreement, signed in November 2023, had an initial three-year term that began when the funds were disbursed and is now about to expire. Under its terms, China Eastern can either extend the financing by one three-year period at a time or repay the full principal plus any outstanding interest, including deferred interest. The airline said the extension would keep its financing arrangements stable, meet its funding needs, and optimise its balance sheet structure.