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China Southern Airlines expects capital injection from parent

Jun. 5, 2012 (China Knowledge) - China Southern Airlines Co<600029><1055>, the country's largest air carrier by fleet size, announced yesterday that its parent company China Southern Air Holding Co is mulling a capital injection into the company to lower its debt/asset ratio.

The air carrier said in a statement filed with the Shanghai Stock Exchange that it is also planning to issue new shares to its parent company through a private placement.

Both A shares and H shares has been suspended from trading from Tuesday.

China Southern Airlines earlier posted RMB 319-million net profit attributable to shareholders for the first quarter of this year, reflecting a YoY plunge of 74.2% from RMB 1.24 billion, China Knowledge reported earlier.

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