Subsidiary Cargo Airlines Continuous loss *st on the increase of 110 million yuan on the flight to save

-This reporter Sun Zhongyuan Shi Yuli Although has long been *st, on the airlines still make every effort to save the subsidiary Shanghai International Freight Forwarding Co., Ltd. Last night, *st issued a notice that the board unanimously agreed, according to the proportion of the shares on the Shanghai International Freight Forwarding Co., Ltd. increased capital of 110 million yuan, used to replenish the freight capital. After the completion of the replenishment, the registered capital of the cargo airlines will be increased from the original 464 million yuan to 664 million RMB.　　The shareholding ratio of each shareholder is unchanged, including 55% of the shares.　　Last night, chief executive Xu Yumin said there was no connection between the injection of cargo and the restructuring of the Eastern Airlines, "the cargo is our own subsidiary, we are adding to his investment", on why the decision to increase capital at this time, he said that the current operation of the cargo airlines is more difficult, taking into account the market factors, feel that the current increase is appropriate.　　China Airlines said that the Board decided to convene the 2008 annual shareholder meeting in the morning of June 30, 2009 to consider the above and the company's 2008 profit distribution plan and other matters. Cargo Airlines was established in July 2006, is by Shanghai Airlines Co., Ltd., Sheng Ai Enterprise Limited, Czech Airlines Enterprises Limited jointly established joint venture public air transport enterprises.　　Total investment of 200 million yuan, registered capital of 124 million yuan, of which Shanghai Airlines Co., Ltd. holds 55% shares, Sheng Hang Enterprise Limited holds 25% shares, Czech Airlines Enterprise Limited holds 20% shares. Reporter learned that Shanghai originated in the air cargo market, competition has always been fierce. In addition to freight, the Shanghai market there are cargo airlines, Yangtze River Express, Great Wall Airlines and many other professional cargo airlines in the operation. However, the company set up a continuous loss for several years, especially in last year's aviation industry cold, the impact of cargo flights is more difficult.　　The airline also began to contract the continuous loss of the cargo business will be contracted to control the line of capacity input. Last year, the annual report showed that the company lost 1.249 billion yuan. This is the most serious loss that *st has suffered in the last 7 years of its listing. And an important reason is that the cargo airlines serious losses. The total loss of 263 million yuan a year, the company combined net profit caused about 145 million yuan impact.　　And the cargo is the *st to enter the freight and international market important chips, in the last year, the airline has increased its capital of 143 million yuan. Zhou Chi said, "Cargo flights are completely affected by the international economic situation, and currently do not see the possibility of reversal." "In its view, domestic and foreign civil aviation industry situation reversal of the time lag, over 6 months." "We are shrinking capacity and looking for a good strategic restructuring." "Citic investment analyst Li Lei believes that the increase and the continued loss of cargo flights, because the recent air freight market has been depressed, and the registered capital is limited, relatively short of money." At this time the airlines need to provide support to the subsidiary.　　Although it is difficult to get on the air now, but the 110 million capital injection is still drawn. At the same time, on the flight from the major shareholder of Shanghai Sasac received 1 billion capital injections, will also be passed to the Jinjiang countryThe issue of additional entry into the air, thereby increasing the capital of the airline, there is news that Jinjiang International will be part of the shares and Eastern Airlines transfer to achieve cross shareholding.