China Express Airlines guarantees subsidiary's ¥118m loan

China Express Airlines Co., Ltd. recently announced a guarantee for a loan taken by its wholly-owned subsidiary, Yunfei Aircraft Leasing (Shanghai) Co., Ltd. The company signed a "Guarantee Contract" with China Everbright Bank Co., Ltd. Shanghai Branch, providing a joint and several liability guarantee for the subsidiary's fixed asset and project financing loan, amounting to ¥118,400,000.00. This action falls within the scope of the guarantee amount approved at the company's 2024 annual general meeting.

The guarantee relates to the principal of the loan, interest, default penalties, damages, and expenses incurred for realizing the creditor's rights. The guarantee period is three years from the expiration of the debt performance period of the main contract. This move supports the subsidiary's operational needs and aligns with the company's broader strategy to enhance economic benefits and profitability.

As of the disclosure date, the cumulative outstanding external guarantees by China Express Airlines and its subsidiaries total ¥888,632,300.00. Of this, ¥825,486,600.00 is for subsidiaries, representing 26.46% of the company's latest audited net assets as of December 31, 2024. The company and its subsidiaries have no overdue external guarantees or guarantees involved in litigation.