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Shanghai filter fabrics Airlines says gov’t injection report untrue
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Shanghai filter fabrics Airlines says gov’t injection report untrue
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Shanghai Airlines says gov’t injection report untruePublished: 09 Dec 2008 02:07:30 PST
Dec. 9, 2008 (China Knowledge) – Shanghai Airlines<600591>, China’s fifth-largest air carrier based in Shanghai, denied the report from a local newspaper that the municipal government would inject fund into the company.
The 21st Century Business Herald reported on Friday that the State-owned Assets Supervision and Administration Commission of Shanghai is considering cash injection into the local airline, which has suffered losses of RMB 414 million in the first three quarters.
The report indicated the capital injection would pave way for Shanghai Airlines’ merger with China Eastern Airlines<600115><670><CEA>.
The local carrier said in a statement that its shareholders and the municipal government had not taken any move on the capital injection and it had not had any discussion with any potential investors on other issues that might affect its share price.
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