Aug 04, 2022 05:15 AM

BUSINESS

Air China Plans $2.2 Billion Share Placement to Expand Fleet

By Huang Rong and Han Wei

In its first half earnings estimate, Air China said it expects to report a net loss of between 18.5 billion yuan and 21 billion yuan.

In its first half earnings estimate, Air China said it expects to report a net loss of between 18.5 billion yuan and 21 billion yuan.

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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