Hainan Airlines Agrees to Tianjin Airlines' Proposed 772 Million-Yuan Debt Payment

MT Newswires Live2024-12-19

Hainan Airlines (SHA:600221, SHA:900945) said its board approved Tianjin Airlines' proposed debt payment of 772.0 million yuan.

Tianjin Airlines will use its 4.99% equity in Guoyin Financial Leasing to offset its debt to Hainan Airlines, according to a Thursday filing with the Shanghai bourse.

Tianjin Airlines has 15 working days from the signing date to complete the industrial and commercial change procedures for the target equity transfer and to complete the filing with the Shenzhen Local Financial Supervision and Administration Bureau.

Shares of Hainan Airlines were down 2% in recent trade.

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