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TwOleadingChinesecarriers.ChinaEasternAirlinesandChinaSouthernAirlines.announcedtheyw illgetRMB 3billion
fUS$441.2millioI11statebail—outrespectively.
CEA saidinastatementfiledwiththeShanghaiStockExchangethatitwilliSSUC652.18millionasharestothegovernmentand
itsmajorshareholdersatRMB3.6pershare.andthesameamountofHsharesontheHongKongstockmarketatRMB1pershare.
辫
Proceedswillbeusedtoreplenishcapitalflow.ChinaEasternAirlinesfCEA1opened 10percenthigheronDecember11on the
Shanghaiexchange.
Thebail—outwillreduceCEA’sasset:liabilityratioby3.77percentagepoints.Theratiostoodat98.49percentonSeptember
30.Itwilleffectivelyimprovethecarrier’sfinancialconditionandfreeupcash.saidLuoZhuping.secretaryoftheCEA boardof
directors.
ChinaSouthernAirlinesannouncedinaseparatestatementaplantoraiseRMB 3billionthroughshareissuesinShanghaiand
HongKong.Itw illissue721.15millionashareatRM B 3.16pershareandthesameamountofH sharesatRM B 1.China’sairlines
haveseenpassengertramcrisebydouble—digitratesfor20years.butmajorcarriersareundermanypressuresthisyearthathave
beenhittingallclassesofseats.
Natura1disasterssuchas1astwinter’sprolongedsnowstormsandtheMayearthquakeinsouthwestChinahittourism andair
trave1.Inrecentmonths.theglobalfinancia1crisisandeconomicslowdownhavecurbedbusinesstrave1.Theshareissueplanstill
needsapprovalfrom shareholdersandregulators.Itisexpectedtobecompletedin2009.(NBS)
Corporation L1m—
China’scivi1aviationauthorityhas
ited fthe “Company”:
NYSE “CEA”:SEHK urgedstate—ownedairlinestocancelordelay
“0670”:SSE “600¨5”、 ordersofrnew aircraft nextyearinaneffort
announcedthat,follow— tokeepcarriersoutoff
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