China’s three major airlines have benefited from the drop in fuel prices and soaring demand to see 21-fold increase in net profits for the first half of the year.
Air China said the private offering will be to buy 15 Boeing B787 aircraft, upgrade its direct sales ecommerce operations, onboard Wi-Fi and cash reserves.
Utour announced it will set up a small loans company in Guangzhou with RMB100 million registered capital.
Piao Guanjia announced it will apply to list on China’s New Third Board (OTC market) and would list as early as the end of the year.
China’s hotel industry is at a crossroads of capitalizing on opportunities brought by explosive growth in the tourism sector while overcoming economic challenges.
Joy Air and Okay Airways are planning to start joint operations of auxiliary regional air routes with the possibility of merging the routes under a new joint venture.
Utour is taking a 54% stake in Oceania travel wholesaler Xtx6 to tap the potential of the Oceania region and bring long-term benefits to overall profitability.
Maitao, has recently announced it received RMB40 million in its A Series financing round. The investment was led by Kaiwu Capital and Walden International.
