Chinese carriers expect government cash boost

Guest Writer

China Southern Airlines will be suspended in Shanghai starting today pending a decision on the use of a CNY1.5 billion (US$220 million) government cash injection, Bloomberg has reported.

The injection from China’s Ministry of Finance is designated to support “principal aviation business development”, according to a company statement to the Hong Kong stock exchange yesterday. Air China is also expected to receive a CNY1.5 billion from the government to buy out minority shareholders’ from its Air China Cargo unit, the report added.

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