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English > Industry&Companies > Industry-Breaking News>1.5 Billion Yuan Investment in Hainan Airlines Unconfirmed

1.5 Billion Yuan Investment in Hainan Airlines Unconfirmed

12-16 12:07 Caijing Magazine

Full article in Chinese: http://www.caijing.com.cn/2008-12-15/110039325.html

Following the receipt of 3 billion yuan capital injections by both China Southern Airlines (CSA) and China Eastern Airlines (CEA), Hainan Airlines (HA), China’s fourth largest, plans to apply for a 1.5 billion yuan investment from the government. Two injection plans will be discussed. One is a direct loan from the government; the other is that Hainan Development Holdings Company reallocates a 1.5 billion yuan injection previously given to Grand China Express Airlines and injects into HA. Unlike both CSA and CEA, HA is not a state-owned company and approval of funding is dependent on the government's approval.

Related article in English: Government Infusion Likely for Two Airlines
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