Xiamen Airlines to acquire Hebei Airlines

China Southern has approved Xiamen Airlines' acquisition of Hebei Airlines for US$106.3 million


China Southern Hebei Airlines Sichuan Airlines Xiamen Airlines


China Southern Airlines has approved Xiamen Airlines’ acquisition of a 95.4 per cent equity interest in Hebei Airlines for CNY680million (US$106.3 million). China Southern said its subsidiary had also been given the greenlight to acquire Sichuan Airlines’ 3.83 per cent stake in Hebei for CNY69 million giving it control of 99.23 per cent of Hebei’s total stock. Xiamen Air will inject US$130.3 million into Hebei over the next three years and will also offer it a short-term loan valued up to US$162.9 million.