Shenzhen Airlines has put Huirun Investment Co.’s 24% stake open for bid as part of Huirun’s court-ordered bankruptcy liquidation. According to the Shenzhen Guangpeng Accounting Firm, Huirun had total debt of CNY4.01 billion ($608.2 million), while its total capital was worth CNY1 billion, prompting a Shenzhen local court to rule that its 24% stake in the Shenzhen-based carrier must be sold to pay off its debts. Huirun owner Li Zeyuan was arrested for unspecified economic ...

Subscribe to Access this Entire Article

"Huirun to sell 24% stake in Shenzhen Airlines" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.