08-May-2009 12:02 PM
China Southern drops on USD2 bn credit agreement, Singapore Airlines & Thai Airways extend gains
Analysis
China Southern Airlines' shares fell 4.7% yesterday as the carrier's parent stitched up yet another massive credit agreement, this time with Bank of Communications for a three-year USD2.2 billion credit line. The deal covers loans and lease financing, to support the Chinese carrier's liquidity amid the financial crisis. The news dragged down China Eastern (-4.2%), Air China (-2.8%), Hainan Airlines (-2.2%) and Shanghai Airlines (-1.4%).
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