China Express Airlines to temporarily use CNY 139m in idle funds

China Express Airlines (SZSE:002928) announced its intention to temporarily use no more than CNY 139,000,000 of idle raised funds to replenish working capital, according to a resolution passed at the 18th meeting of its third board of directors on May 8, 2025. The decision aims to improve the efficiency of the company's capital utilization and further reduce financial costs. The funds will be channeled towards core business operations, including but not limited to expenses such as aviation fuel, airport fees, civil aviation administration fees, and aircraft lease payments. The allocated funds are also intended for repaying working capital loans. The period of use is set for no more than 12 months from the date of board approval, with a commitment to return the funds to a dedicated account before the deadline. Both the board of directors and the supervisory board have approved the plan.