China Southern Air to raise up to US$1.9b in share issue for aircraft purchase, capital boost
China Southern Airlines said Monday it will raise up to CNY12.7b (US$1.9b) in a private sale of new shares to fund the purchase of aeroplanes and replenish working capital. The airline said CNY7.8b of the proceeds will be used to acquire 41 aircraft, and the selection and installation of lightweight seats for its A320 series aircraft. The rest of the proceeds will be used to supplement working capital, it said in a filing to the Hong Kong stock exchange. Chinese airlines have been aggressively expanding their fleet and route network to take advantage of strong travel demand from China, the world's fastest growing aviation market. China Southern Airlines announced a codeshare partnership with Etihad Airways June 22. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-06-27/sky/china-southern-air-to-raise-up-to-us-1-9b-in-share-issue-for-aircraft-purchase-capital-boost
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China Southern Air to raise up to US$1.9b in share issue for aircraft purchase, capital boost
China Southern Airlines said Monday it will raise up to CNY12.7b (US$1.9b) in a private sale of new shares to fund the purchase of aeroplanes and replenish working capital. The airline said CNY7.8b of the proceeds will be used to acquire 41 aircraft, and the selection and installation of lightweight seats for its A320 series aircraft. The rest of the proceeds will be used to supplement working capital, it said in a filing to the Hong Kong stock exchange. Chinese airlines have been aggressively expanding their fleet and route network to take advantage of strong travel demand from China, the world's fastest growing aviation market. China Southern Airlines announced a codeshare partnership with Etihad Airways June 22. <br/>
