Company Watch - China Southern Airlines.
China Southern Airlines flew 7.7 billion RPKs in July, up 14.7% from the year-ago month. Capacity climbed 13% to 10.05 billion ASKs, lifting load factor 1.1 points to 76.6%. Aug 17, 2007
China Southern Airlines reached a deal with majority investor China Southern Air Holding Co., a state enterprise owning 50.3% of the carrier, to purchase the entire equity interest in China Southern Airlines Group Air Catering Co., the assets of Guangzhou BiHuaYuan Training Centre and the assets of Hong Kong-based Nan Lung Travel & Express (including its 51% stake in Nan Lung International Freight) for a combined CNY269.5 million ($35.5 million). In turn, CSAHC will purchase CZ's 90% stake in the Guangzhou Aviation Hotel for CNY74.7 million. Aug 17, 2007
China Southern To Buy Catering Assets. China Southern Airlines said it would buy in-flight catering services, training facilities in Guangzhou, and the airline and air cargo agency service from its controlling shareholder for CNY269.51 million yuan (USD$35.53 million) in cash. The airline said in a statement late on Tuesday it would also sell all of its 90 percent stake in Guangzhou Aviation Hotel to the controlling shareholder, China Southern Air Holding, for CNY74.72 million yuan. China Southern Airlines said the deals aimed to optimize its assets structure and help tighten cost controls. Aug 15, 2007
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|Date:||Aug 20, 2007|
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