Xiamen Airlines to acquire Hebei Airlines

China Southern Airlines hasapproved Xiamen Airlines’ acquisitionof a 95.4 per cent equity interest inHebei Airlines for CNY680 million(US$106.3 million).


Xiamen Airlines to acquire Hebei Airlines


China Southern Airlines hasapproved Xiamen Airlines’ acquisitionof a 95.4 per cent equity interest inHebei Airlines for CNY680 million(US$106.3 million). China Southernsaid its subsidiary had also been giventhe greenlight to acquire SichuanAirlines’ 3.83 per cent stake in Hebei forCNY69 million giving it control of 99.23per cent of Hebei’s total stock.

XiamenAir will inject US$130.3 million intoHebei over the next three years and willalso off er it a short-term loan valued upto US$162.9 million.