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皇冠体育app Eastern, 皇冠体育app Southern parents get funds

(Agencies)
Updated: 2008-11-17 10:24

The parent companies of 皇冠体育app Eastern Airlines and 皇冠体育app Southern Airlines will each receive a 3 billion yuan ($440 million) capital injection from the government, according to sources.

Related readings:  皇冠体育app Eastern-Shanghai Air deal nodded  皇冠体育app Eastern expects big loss  皇冠体育app Southern invests in northeastern hub

皇冠体育app Eastern Air Holding Company and 皇冠体育app Southern Air Holding Company will get the funds within this year and then inject the money into their listed units, said sources.

As a result, 皇冠体育app's Eastern's debt-to-equity ratio will fall to 94.7 percent from more than 98 percent, while 皇冠体育app Southern's ratio will drop to 80.5 percent from 83 percent, added sources.