Saturday, November 22, 2008

Two aviation companies' parents funded

The parent companies of China Eastern Airlines and China Southern Airlines will each receive a 3 billion yuan ($440 million) capital injection from the government, according to sources.

China Eastern Air Holding Company and China Southern Air Holding Company will get the funds within this year and then inject the money into their listed units, said sources.

As a result, China's Eastern's debt-to-equity ratio will fall to 94.7 percent from more than 98 percent, while China Southern's ratio will drop to 80.5 percent from 83 percent, added sources.

No comments:

Enter your email address:

Delivered by FeedBurner