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In detail, Hainan Xinguo Hotel Co., Ltd. will pay Hainan Airlines CNY 69.5148 million for some land lots and properties involved in a tourism building project in Haikou City, Hainan Province. And CNY 125 million worth of properties in Sanya Aviation & Tourism College are expected to be bought by the airways' controller HNA Group Co., Ltd.
Not long ago, HNA Group and the Hainan provincial government totally injected CNY 3 billion into Hainan Airlines, which is set to repay CNY 2.047 billion of the money to banks. Presently, the subsidiary is still exerting itself to supplementing its capital.
In addition, Hainan Airlines gained a net profit of CNY 31.82 million in the first quarter of 2009, plunging 89% from the comparable period of 2008.
Source: www.163.com (July 22, 2009)
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