Financial Round Up
Hainan to raise $3.9 billion
April 20th 2015
Hainan Airlines said it will raise up to 24 billion yuan ($3.9 billion), through a private placement of 6.59 billion shares, to repay bank loans, finance acquisitions, including increasing its Tianjin Airlines holding from 44.65% to 48.21%, and to buy new aircraft. Read More »
The Mainland’s “Number Four” is in the process of introducing 105 aircraft, comprising 36 narrow bodies and 69 wide bodies, to its fleet by 2018; it is expected to pay for 37 aircraft between May 2015 and December 2018, totalling approximately 43 billion yuan. The carrier revealed it would use 11 of the 24 billion yuan it plans to collect to cover part of the 37-aircraft payment.
To support its growth beyond 2018, Hainan last month placed an order for 30 Boeing B787-9 aircraft.
