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Hainan Air to get $440 million bailout

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capital injection

Hainan Air to get $440 million bailout

May 22, 2009 by Payload Asia

Hainan Airlines is set to get a capital injection of US$440 million from its parent company and the Hainan provincial government by selling them new shares, according to Dow Jones. Hainan Airlines' debt-to-asset ratio will fall to around 81 per cent after the injection, an un-named source was quoted as saying. The carrier had a debt-to-asset ratio of 87 per cent at the end of March. The airline joins other Chinese carriers, including China Eastern Airlines, China Southern Airlines and Shanghai … [Read more...] about Hainan Air to get $440 million bailout

Other Topics: Air & Cargo Services, air cargo, Air Cargo Asia, air cargo freight, Air Forwarding, air freight, Air Freight Asia, Air Freight Logistics, air freighter, air freighting, Air Logistics Asia, Air Shipping Asia, airlines cargo, airways cargo, asia cargo news, bailouts, capital injection, cargo aviation, debt-to-asset ratio, Hainan Airlines

China Eastern looks to another hand-out from Beijing

May 15, 2009 by Payload Asia

China Eastern Airlines (CEA) is expected to receive a further CNY2 billion (US$294 million) capital injection from the Chinese government to help the struggling carrier survive. This follows an earlier CNY7 billion hand-out from Beijing at the end of 2008 but did little to relieve its debt burden of CNY83.7 billion as of 31 March which amounted to a debt ratio of 115 per cent. Industry pundits have speculated the bailout money is meant to pave the way for the long-talked about merger with … [Read more...] about China Eastern looks to another hand-out from Beijing

Other Topics: Air & Cargo Services, air cargo, Air Cargo Asia, air cargo freight, Air Forwarding, air freight, Air Freight Asia, Air Freight Logistics, air freighter, air freighting, Air Logistics Asia, Air Shipping Asia, airlines cargo, airways cargo, asia cargo news, capital injection, cargo aviation, China Eastern Airlines, debt burden, hand-out

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