Air China may get cash injection to up stake in Cathay
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Air China may get cash injection to up stake in Cathay
AIR China said it may receive a 1.05 billion yuan (US$167 million) cash injection from its parent company to increase its stake in Cathay Pacific.
The carrier said its controlling shareholder, China National Aviation Holding Co, is considering injecting the funds to Air China. The money would come from the central government's operational budget for state-owned enterprises and would be allocated by the Ministry of Finance.
Trading in its shares was halted today on both Shanghai and Hong Kong's stock markets, pending an official announcement about the cash injection, according to filings to the two exchanges yesterday.
Air China currently holds a 29.9 percent stake in Cathay Pacific.
The carrier is also working on a potential non-public offering of shares, it said in the filing.
In 2011, Air China's revenue increased 19.9 percent from a year earlier to 97.1 billion yuan and profit dropped 39 percent on year to 7.5 billion yuan.
(Shanghai Daily)
The carrier said its controlling shareholder, China National Aviation Holding Co, is considering injecting the funds to Air China. The money would come from the central government's operational budget for state-owned enterprises and would be allocated by the Ministry of Finance.
Trading in its shares was halted today on both Shanghai and Hong Kong's stock markets, pending an official announcement about the cash injection, according to filings to the two exchanges yesterday.
Air China currently holds a 29.9 percent stake in Cathay Pacific.
The carrier is also working on a potential non-public offering of shares, it said in the filing.
In 2011, Air China's revenue increased 19.9 percent from a year earlier to 97.1 billion yuan and profit dropped 39 percent on year to 7.5 billion yuan.
(Shanghai Daily)
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mainly to fund an earlier purchase of Cathay Pacific Airways Ltd. (0293.HK) shares.
Air China in 2009 bought an additional 12.5% stake in Cathay Pacific
Air China in 2009 bought an additional 12.5% stake in Cathay Pacific
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Today HK EX News
Noticed this report on HKEX today
Hong Kong Exchanges and Clearing Limited
Can those that know pls explain its relevance?
May seem like AC are trying to sell some of Cx Shares.
Maybe explains one reason why Cx are "Crying wolf on bad times again"
Hong Kong Exchanges and Clearing Limited
Can those that know pls explain its relevance?
May seem like AC are trying to sell some of Cx Shares.
Maybe explains one reason why Cx are "Crying wolf on bad times again"
Last edited by crewsunite; 25th Apr 2012 at 15:05.
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China Eastern, Cathay downgrade 1Q profit forecast | ATWOnline
Can you say "SLS III"
Perhaps the AOA could negotiate something like 25yr housing for doing it
Can you say "SLS III"
Perhaps the AOA could negotiate something like 25yr housing for doing it
Don't forget that 1 week that was never paid back to the Captains. That has left a very bitter taste in a lot of mouths.
Personally, I am more than happy to participate in SLS III..... upon full repayment of SLS II. And we all know what the chances of that are.
b.
Personally, I am more than happy to participate in SLS III..... upon full repayment of SLS II. And we all know what the chances of that are.
b.
