Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
AIR CHINA (00753.HK)'s Air Macau Seeks Capital Injection Amid Operational Challenges
Recommend 3 Positive 11 Negative 5 |
||||
|
||||
|
The Macau government submitted a report to the Second Standing Committee of the Macau Legislative Assembly, highlighting that Air Macau has faced extreme operational difficulties with significant losses recorded this year due to numerous adverse factors. It is expected that by the end of this year, Air Macau's debt-to-asset ratio will exceed 99.5%, with net assets only reaching MOP14 million, compared to the current capital amount of MOP842 million, failing to meet the requirement of Article 206 of the Commercial Code that net assets must reach half of the capital amount. AIR CHINA (00753.HK), Air Macau's major shareholder, proposed a capital injection of MOP1.6 billion for Air Macau, while the Macau government, as the second-largest shareholder, will contribute MOP340 million according to its 21.5% shareholding ratio. AIR CHINA's 2024 interim report showed that during the period, revenue rose 20.64% YoY to RMB1.473 billion, but an interim loss of RMB378 million was recorded, expanding from the interim loss of RMB173 million in 2023. As of the end of June 2024, AIR CHINA held approximately 66.92% equity in Air Macau. SJM HOLDINGS (00880.HK)'s parent company STDM is also a shareholder of Air Macau. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
