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Earlier this week East Star, a private Chinese airline based in Hubei Province, signed an agreement to purchase and lease aircraft from Airbus. Now The Beijing News reports that the General Administration of Civil Aviation (CAAC) has not yet given its stamp to the 12 billion yuan (US$1.48 billion) deal.

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China's energy consumption was a cause for concern this past summer. Earlier this year rising fuel prices put drivers in long lines for gas or drove them from their cars altogether. Impending problems with the coal supply had many areas proposing policies of rolling blackouts. But while high transportation costs drove up prices on raw materials and caused large drops in the profits of many industries, large-scale power shortages didn't materialize.