China Express Airlines provides RMB 2.923 bn in new guarantees for subsidiary

China Express Airlines recently signed two guarantee contracts with Shanghai Rural Commercial Bank Co., Ltd., providing guarantees totaling RMB 2,923,000,000 for its wholly-owned subsidiary, Yunfei Aircraft Leasing (Shanghai) Co., Ltd. These guarantees cover principal amounts of RMB 1,466,000,000 and RMB 1,457,000,000 respectively, for fixed asset loan contracts.

The guarantees are intended to support Yunfei Leasing in matters such as aircraft acquisition, advance payments for aircraft, project construction, procurement of aviation materials and equipment, and daily operations. Following these new agreements, the actual outstanding guarantee balance for Yunfei Leasing stands at RMB 8,598,232,000.

The total cumulative external guarantee balance for the company and its subsidiaries, as of the announcement date, is RMB 12,348,620,000, representing 36.77% of China Express Airlines’ net assets as of December 31, 2024. The company confirmed there are no overdue external guarantees, no guarantees involved in litigation, and no losses incurred from guarantees due to unfavorable judgments.