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China National Aviation Holding Company, the holding company of Air China, declines to give any comment about the rumored bailout. So did the listed company.
Notably, a senior officer of Air China disclosed days ago that the company had asked the holding company to input more capital to reduce the debt ratio, but no answer had been received. He refused to be named.
Air China is considering a proposal of issuing medium-term notes of no more than CNY 6 billion and has put it to the temporary meeting of shareholders for discussion. No further advance has been seen.
China Eastern Airlines and China Southern Airlines, the two counterparts of Air China, all announced that they would gain huge capital via private share offering from holding companies. The latest news show that China Eastern might gain CNY 7 billion while China Southern might gain CNY 3 billion.
Source: www.shihua.com.cn (December 30, 2008)
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