Hainan Airlines plans to raise additional to quench thirst or to expand

Hainan Airlines announced yesterday that it was planning to issue a shares in private to a particular target, a move that could mean that Hainan Airlines ' efforts to apply for capital injections from the end of last year are about to come to an end.　　Hainan Airlines securities operators said that the relevant issues are still in the argument, will be within 5 trading days results, as to the amount of capital injections, time, manner and other issues no information can be disclosed. Hainan Aviation Bulletin said that there is still uncertainty in the issue of additional issues, Hainan Airlines promised to fail to suspend the company's shares within 5 working days (including the day of the suspension) on the major issues related to the consultation with the relevant departments, or the preliminary argument has not been passed, the company will announce and reply.　　If the major issues on the preliminary demonstration as feasible, the company's shares will continue to suspend business, during the suspension, the company will release a weekly event Progress bulletin.　　In fact, before the directional additional, there is the hope that HNA can get the government to inject the news, Hainan Airlines, the major shareholder of large Xinhua Aviation Co., Ltd. intends to Hainan Province the government to request injection, but this matter has not been below, a drag is half a year.　　Hainan Airlines Board of Directors office staff said that the company 2008 losses, but currently operating normally, whether or not to obtain government capital injections, the company has now begun to solve the financing problem through a number of channels. Citic Investment analyst Li Lei in an interview with this newspaper, said Hna get government capital injection is can be expected things, but the amount is not good to predict. Capital injections can be used to replenish corporate liquidity. For HNA Group's expansion strategy, he said HNA group is too complex, diversified development, may be related to the judgment of the leadership.　　But the listed companies still take aviation as the main business. However, the relative already insolvent St Eastern Airlines, and two consecutive years of loss of *st on the airlines, Hainan Airlines situation slightly better. As the fourth largest airline in China, Hainan Airlines is backed by the tourist attractions of Hainan Island, radiation Tianjin, Xi ' An, and recently began to aggressively enter Beijing, spending 2.3 billion yuan to acquire the group assets.　　Therefore, some analysts believe that the government capital injection is not so much a relief of the financial crisis in the airline predicament, rather than to provide support for the continued expansion of the company.　　Last December 31, at the fourth meeting of the provisional general meeting, Hainan Airlines approved the acquisition of HNA group 2.3 billion yuan assets of the resolution, the Company believes its own cash flow adequacy, the premium acquisition is strong with the company's capacity to move northward, the acquisition has been completed payment. In addition to the expansion of Beijing and March 17 just in Shanghai set up a large Xinhua logistics, HNA Group in Tianjin and new moves.　　Just yesterday, it was reported that the Tianjin municipal government, HNA Group and Hainan Airlines Co., Ltd. planned to set up a new airline in Tianjin next month--Tianjin Airlines Co. Hainan Airlines 2009 work plan also showed that in order to meet the needs of large-scale development of the company, increased the pace of expansion. 2009 the company plans to introduce 38 aircraft, including A340 Aircraft 2, A330 aircraft 3, A319 aircraft 9, b737-800 aircraft 24. It plans to purchase 14 b737-800 aircraft, the total value of about 6.7.9 billion USD, since the purchase of 9 A319 aircraft, the total value of about 369 million U.S. dollars, the remaining 15 aircraft for the operating lease. Guotai analyst Wu Li in recent research reports that the end of 2008, the company directly operating aircraft in about 80, is expected to introduce 38 in 2009, capacity growth of 30%-40%. As more than 90% of the company's passengers from domestic routes, relying on the strong domestic market demand, the company plans 09 passenger traffic volume year-on-year growth of 37%, and the expansion of capacity to match.　　2009 capital expenditure will reach 24 billion, it is expected that Hainan Province government as a controlling shareholder is likely to inject a certain scale of funds to solve the company's large-scale expansion of the capital needs, while the injection of funds to reduce the company's debt rate, broaden the debt financing channels. Changjiang Securities aviation industry analyst Yangzhiqing that Hainan Airlines have access to the possibility of government injection, but the time and amount are uncertain.　　At present, Hainan Airlines quarterly show that the company has 8 billion cash on hand, in the average level of the calendar year, to maintain the operation is still no problem. Hainan Airlines this year's operating expectations yangzhiqing that this year HNA should not be like last year as a loss, may be a meager profit status. "We assume that the capital injection of 3 billion to 5 yuan per share as a directional additional price, then will increase the 600 million share capital, increase the thickness of net assets of about 0.46 yuan." Yanjing Hotel Guaranteed net profit of 97 million, Beijing Branch Airlines net profit of 82 million, "so directional additional, 2009 HNA's performance will be thickened."