Hainan Airlines plans $1.2 billion share sale
By Jasmine Wang | China Daily | Updated: 2011-07-13 07:51
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A Hainan Airlines Co passenger plane at Meilan Airport in Haikou, Hainan province. The carrier will use 6 billion yuan of the proceeds from a share sale to reduce debt as rising borrowing costs have had "an adverse effect" on operations, the airline said on Tuesday. Provided to China Daily |
HONG KONG - Hainan Airlines Co, controlled by the investment arm of the Hainan provincial government, plans to raise as much as 8 billion yuan ($1.2 billion) in a private share placement partly to help pay bank loans.
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