Hainan Airlines transfers capital into Tianjin

Hainan Airlines has announced plans to inject CNY980 million ($153 million)-worth of capital into Tianjin Airlines, raising the latter’s capital to CNY7350 million ($1.14bn). Following the capital injection, Hainan’s shareholding in Tianjin Airlines will reach 43.54%, and will remain Tianjin’s second-largest shareholder behind Tianhang Holding Co Ltd, which owns 53.74%.