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ChinaScope is the financial data and analytics platform for global financial professionals seeking critical quantitative and qualitative information on China. Our platform covers raw and processed data and information on companies, industries and the macro economy. We help our clients gather and... More
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  • Three Major Chinese Airlines In Need Of Funding 0 comments
    Sep 11, 2012 3:00 AM | about stocks: AICAF, CEA, ZNH

    Source: National Business Daily, ChinaScope Financial (Data)

    + According to the 2012 interim results, net profits of Air China (0753: HKG; 601111: SHA), China Southern Airlines (1055: HKG; 600029: SHA), and China Eastern Airlines (0670: HKG; 600115: SHA) declined 73.87 percent, 83.7 percent, and 59.41 percent year-on-year, respectively. The three airlines are trying to inject new capital to improve their financial situation.

    + China Eastern suspended its stock trading on September 6 due to an ongoing capital injection plan. On August 26, 2012, Air China privately offered shares on the A-share market to raise CNY 1.05 billion. And on June 21, 2012, China Southern Airlines said it privately offered shares to its parent company, China Southern Air Holding Co., and raised CNY 2 billion, which will be used to repay bank loans.

    Intensified cost pressure is causing erosion of margins for China's three major airline companies.

    (click to enlarge)

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