China Southern Airlines' subsidiary announces restructuring
Source: Xinhua | 2020-11-27
China Southern Airlines General Aviation Limited announced ownership restructuring on Thursday as the country pushes mixed-ownership reform of state-owned enterprises (SOEs).
A subsidiary of China Southern Airlines, a major carrier of the country, the company has introduced three investment entities as its stockholders, including a fund established last year to push mixed-ownership reform of SOEs.
After the restructuring, the registered capital of China Southern Airlines General Aviation Limited would increase to 1.34 billion yuan (204 million U.S. dollars) from 1 billion yuan.
China Southern Airlines Company Limited will continue to hold a controlling stake in the company.
China has been pushing mixed-ownership reform of SOEs to encourage market operations and enhance efficiency.
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