Hainan Airlines 737-800. Photo: By Rob Finlayson. Hainan Airlines is expected to collect CNY8 billion ($1.24 billion) through the private placement of additional shares. It plans to use the funds to reduce its high debt ratio and expand its fleet. In a statement released by the Shanghai Stock Exchange, the Haikou-based carrier said it intends to circulate an additional 1.25 billion shares priced at no less than CNY6.42 per share. HNA plans to spend the CNY8 billion to pay off a bank ...

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