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China Southern Airlines receives $9b credit line

By Ben Yue (chinadaily.com.cn)
Updated: 2011-05-26 16:07

The Agricultural Bank of China (ABC) has granted a 60 billion yuan ($9.25 billion) credit line to China Southern Airlines to support its strategic development, New Express Daily reported on Thursday.

The two companies also decided their cooperation on yuan and foreign currencies' settlement, cash administration methods, advertising, redemption of travel points, and joint issuance of credit cards.

The report said ABC will support financial consulting to the airline and create an online payment tool for customers.