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China Southern injects RMB 500 million in finance arm

12/29/2016| 3:46:04 PM|

China Southern Airlines and its controlling shareholder China Southern Air Holding have agreed to invest a total of RMB 500 million into their finance arm.

China Southern will contribute RMB 170 million, while the parent group will inject 330 million yuan into Southern Airlines Group Finance Company (SAGFC), the Guangzhou-based carrier said in a disclosure on the Hong Kong Exchange.

After the capital increase, China Southern will increase its stake in the financial unit from 21% to 25%, while the group holding 66%.

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TAGS: China Eastern | airlines | finance
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