Xiamen Airlines gets capital boost from parent China Southern

China Southern will inject more capital into its subsidiary Xiamen Airlines, as part of a move to “support the development” of the latter carrier’s business. China Southern discloses that it will pump around CNY2.2b ($336m) into its subsidiary, to be paid in cash and with aircraft assets. Two other shareholders of Xiamen Airlines — Fujian Investment, as well as real estate corporation Xiamen C&D — will also inject fresh capital in cash, at CNY440m and CNY1.4b, respectively. The capital increase exercise is expected to be completed by 30 June 2023, states China Southern. As a result of the capital boost, Xiamen Airlines will now see its registered capital increase to CNY14b, up from the current CNY10b. The additional funds will be used to ease Xiamen Airlines’ cashflow pressure, and to “meet the development needs of its fleet”, says China Southern.<br/>