China Southern Airlines renews leasing deals, shareholders approve key measures

China Southern Airlines (SSE:600029) announced the renewal of its asset leasing framework agreement with its controlling shareholder, China Southern Air Holding Company Limited (CSAHC), for 2026-2028. This agreement, combining previous land, property, and asset leasing accords, is projected to have an annual transaction cap of RMB 42,804.82 million in 2026, rising to RMB 44,632.12 million for 2027 and 2028. The company emphasized that pricing adheres to market and appraisal values, ensuring fairness and not affecting its independence.

Concurrently, the company held its first extraordinary general meeting of 2025 on December 12, 2025, with 74.71% of voting shares represented. Shareholders approved several key resolutions, including the provision of a guarantee for Xiamen Airlines Co., Ltd. for 2026. They also approved the renewal of financial services framework agreements with China Southern Air Holding Company Limited Finance Company Limited and China Southern International Financial Leasing Co., Ltd.

Furthermore, shareholders approved revisions to the company's Articles of Association and the Shareholders' Meeting Rules, including the abolition of the Supervisory Committee. These resolutions received overwhelming support, with all proposals passing through both ordinary and special resolutions.