Summary by Moomoo AI
CHINA SOUTHERN AIRLINES CO., LTD. ANNOUNCED ON 29 DECEMBER 2023 THAT IT SIGNED AN INVESTMENT AGREEMENT WITH CHUANAIR GROUP, SHANDONG AIRLINES, CHINA EASTERN AIRLINES, CHENGDU GINXING AND SICHUAN AIRLINES TO JOINTLY INVEST RMB 120 BILLION TO STRENGTHEN THE LIQUIDITY AND DEVELOPMENT CAPACITY OF SICHUAN AIRLINES. China Southern Airlines will invest approximately $46.8 million on a shareholding ratio and will pay in three instalments, including the transfer of one A330-300 aircraft and cash injection. The investment will not change the shareholding structure of Sichuan Airlines and the shareholders' equity ratio will remain unchanged. The capitalization transaction is a disclosable transaction in accordance with section 14.07 of the Listing Rules. China Southern Airlines said the move would help the company's strategic layout in the Chengdu region and strengthen its cooperation with Sichuan Airlines to promote the long-term development of the Group.