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The move can pull down the asset-liability ratio of China Southern Airlines. Notably, the ratio stood at 88.39% in the first quarter of this year.
The dual-listed airway stressed that the money would help the airway sharpen its competitive edge, repay partial loans, ease financial burden, and lower interest expenditure.
The China Southern Airlines General Manager disclosed that its operating revenue would rise over 10% in the first half of this year. The three biggest Chinese airlines, including China Southern Airlines, are all expected to make money.
China Eastern Airlines (SEHK: 0670; SHSE: 600115) gained a net profit of CNY 1.206 billion, and Air China (SHSE: 601111; SEHK: 0753) is forecast to achieve a growth of over 50% year on year.
Source: thebeijingnews.com (August 24, 2009)
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