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China Southern provides $122 million to Xiamen for fleet expansion
Xiamen Airlines received a CNY810 million ($121.5 million) capital injection from majority owner China Southern Airlines to fund a rapid fleet expansion.
CZ, which currently holds 51% of Xiamen, said in a statement that Xiamen Construction & Development Co., which owns 34% of the carrier, additionally injected CNY540 million into the airline. Meanwhile, more money was raised when Hebei Aviation Investment Group invested CNY1.46 billion to purchase a 15% stake in Xiamen.