Hainan Airlines shareholders approves state share sale plan

Beijing (XFNews-ASIA) - Hainan Airlines Co Ltd (SHA 600221; SHB 900945), China's fourth largest carrier, said its shareholders have approved the company's state share sale plan under which it will offer 3.3 shares for every 10 tradable A-shares.

Xinhua Aviation Holding Co Ltd, the largest shareholder, has promised not to sell its remaining shares in the firm for three years after the deal is completed, Hainan Airlines said in a statement.