Air China Plans $2.2 Billion Share Placement to Expand Fleet
China’s flag carrier Air China Ltd. plans to raise as much as 15 billion yuan ($2.2 billion) through a private placement to expand its fleet.
Shanghai-traded Air China said it will issue shares to no more than 35 selected investors including controlling shareholder China National Aviation Holding Co. Ltd. The proceeds will be used to buy 22 new jetliners and supplement the company’s operating capital.
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