Hainan Airlines subsidiary provides 1bn yuan aircraft guarantee

Hainan Airlines announced its subsidiary Yunnan Xiangpeng Airlines will provide a 1.04 billion yuan guarantee for Chongqing Yangtze River Six Aircraft Leasing to lease two Airbus A321-271NX aircraft.

The guarantee brings Hainan Airlines' total outstanding external guarantees to 2.47 billion yuan, representing 108.48% of the company's latest audited net assets. Chongqing Yangtze River Six is a newly established special purpose vehicle with no operational history.