Cash boost for Air China

Guest Writer

Air China’s parent company will receive a CNY1.5 billion (US$219 million) cash injection from the Chinese government, it was reported saying in a statement to the Shanghai Stock Exchange. According to a Shanghai Daily report, the cash will go towards funding an increased stake in air freight operator, International Cargo Transport Ltd of China. The company will increase its shares in the cargo firm from 76% to 100% at a cost of CNY718 million, the report stated.

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