Airline News
Anti-graft probe at China Southern ensnares chairman
November 6th 2015
China's anti-corruption watchdog, the Central Commission for Discipline Inspection (CCDI) is investigating China Southern Airlines chairman, Si Xianmin, for "severely violated the rules," according to a statement posted on its website. Read More »
In January, four senior China Southern executives, including CFO Xu Jiebo, were detained for "job-related crimes". Two weeks ago, Liu Qian, a deputy manager in charge of operations at China Southern, was taken away for investigation, and subsequently removed from his position. "A case on file for investigation against Liu Qian [has] been placed due to the suspicion of bribery crime. According to the relevant laws and regulation and the articles of association of the company, all eleven directors of the board considered and unanimously approved that Liu Qian be removed as the executive vice president of the company. The above matter does not affect the ordinary operation of the company," China Southern said in a notice to the Hong Kong stock exchange.
In April, Liu received a “serious warning” from the party and an administrative sanction for playing golf on public funds, while Zhang Zhong and Lin Qingtong, two managers at China Southern's Zhuhai Flight Training Centre, were also warned and made to return the funds, according to a notice on the CCDI website.
In more positive news for the carrier, China Southern last week announced it was seeking up to 19 billion yuan ($3 billion), via private placement, to retire debt and support its development.
