From Caijing Online

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Although the carriers were waiting to be officially notified,louboutin chaussure pas cher, talk of the plan pushed share prices higher to the 10 percent daily limit for the parents’ listed subsidiaries China Eastern Airlines Co. Ltd. (SSE: 600115) and China Southern Airlines Co. Ltd. (SSE: 600029) on November 17. China Eastern closed at 2.85 yuan,franklin et marshall, while shares in China Southern finished at 3.67 yuan. Other Chinese air carriers including Hainan Airlines,franklin and marshall, Shanghai Airlines and Air China also saw their stock prices rise sharply.


Air China reported a liability-asset ratio of 69.6 percent and a 1.94 billion yuan loss for the third quarter.
From Caijing Online
China Southern reported a net loss of 810 million yuan for the third quarter,christian louboutin pas cher, giving it a liability-asset ratio of 83.3 percent at the end of September.


The capital would be funneled to each parent company, Caijing learned, which in turn might boost stakes in subsidiaries after issuing additional stock.



1 yuan = 14 U.S. cents



“Air China has a lower liability-asset ratio,christian louboutin, so it hasn’t obtained the injection,” a source said.
China Eastern’s listed division said its parent is also waiting for the government to formally respond to a request for capital.







A market rumor in January 2007 theorized that the government would inject a combined 16 billion yuan into three,franklin marshall pas cher, major carriers to increase their registered capital and alleviate debt. The rumor said China Southern would receive 6.6 billion yuan, China Eastern would get 6.4 billion yuan, and Air China would receive 3 billion yuan.



An industry source told Caijing on November 17 that the government has approved the plan to inject 3 billion yuan each in China Southern Airlines Group and China Eastern Airlines Group.

After nearly two years of market rumors, China Southern and China Eastern are apparently getting government help.


But the latest unofficial report said the total injection would be far less, and that only China Southern and China Eastern would get help because their debt burdens are higher than Air China’s.
China Eastern posted a 2.33 billion yuan loss for the third quarter due to global financial turmoil,louboutin chaussure, as revenues fell 13.7 percent year-on-year. The airline also reported 1.14 billion yuan in net assets and a liability-asset ratio of 98.5 percent.





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By staff reporters Ji Minghua and Zhou Lingling







The Chinese government apparently plans to inject a combined 6 billion yuan into two major airlines to reduce their debt. But the infusions would be far less than what the market had expected earlier.


Nevertheless, the board secretary for Air China Ltd. (SSE: 601111) said the company has considered requesting a capital injection from the government.





Xie Bing, board secretary of China Southern’s listed subsidiary, told Caijing his company has asked for more information from its parent, which has sought a government capital injection for two years. But the request “has not yet received any approvals from the State Council or other departments,” he said.
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