Embattled Hainan Airlines eyes US$1.8b in bank loans
Hainan Airlines is planning to borrow CNY7.5b (US$1.08b) from banks, according to the company. The National Development Bank is the lead and agent bank, which will provide the company with CNY1.5b. Six other banks including, Exim Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Bank of China and Postal Savings Bank of China will each offer the company CNY1b. The loan period is 3 years, while the grace period is1 year. Hainan Airlines said the funds will be used for operational expenses such as buying aviation fuel, aviation materials as well as maintenance and landing fees. Last summer, Airbus refused delivery of a number of Airbus A330 aircraft to Hainan Airlines because the carrier was not able to pay for them. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-11-30/unaligned/embattled-hainan-airlines-eyes-us-1-8b-in-bank-loans
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Embattled Hainan Airlines eyes US$1.8b in bank loans
Hainan Airlines is planning to borrow CNY7.5b (US$1.08b) from banks, according to the company. The National Development Bank is the lead and agent bank, which will provide the company with CNY1.5b. Six other banks including, Exim Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Bank of China and Postal Savings Bank of China will each offer the company CNY1b. The loan period is 3 years, while the grace period is1 year. Hainan Airlines said the funds will be used for operational expenses such as buying aviation fuel, aviation materials as well as maintenance and landing fees. Last summer, Airbus refused delivery of a number of Airbus A330 aircraft to Hainan Airlines because the carrier was not able to pay for them. <br/>
