China Southern Airlines to use two thirds of capital raising to purchase aircraft

China Southern Airlines stated (13-Oct-2020) that CNY10.6 billion (USD1.6 billion) of its planned CNY16 billion (USD2.4 billion) capital raising via convertible A-shares will be used to fund the purchase of aircraft, while CNY600 million (USD89.8 million) will be used to purchase engines and CNY4.8 billion (USD718.3 million) will be used as supplementary working capital. The aircraft acquisition includes two A319neos and nine A321neos, while the engine acquisition will include two CFM LEAP-1A33s, one LEAP-1A26 and two Rolls Royce Trent-XWBs. [more - original PR - Chinese]