21-Jun-2011 11:42 AM

China Southern and China Development Bank sign USD9bn credit

China Southern Airlines and China Development Bank have signed a CNY60 billion (USD9 billion) financial cooperation agreement for the 12th Five-Year Plan ending 2015 (Yicai, 20-Jun-2011). The funds will be used for aircraft lease financing, working capital loans, aircraft and related equipment leasing, mergers and acquisitions. During the nation’s 11th Five-Year Plan ended 2010, the bank provided China Southern with CNY7.3 billion (USD1.1 billion) in financial support.

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More