 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
Bank of China extends massive credit to state aircraft maker
Beijing (AFP) Feb 6, 2009 The Bank of China will extend a credit line of 60 billion yuan (8.78 billion dollars) to Aviation Industry Corp. of China, the country's main state-owned aircraft builder, state media said Friday. Under the agreement signed Friday, the bank pledged to build a "long-term, comprehensive" strategic partnership with AICC and help the group expand overseas, the official Xinhua news agency reported. AICC on Thursday signed cooperation agreements with 10 Chinese commercial banks, giving it access to credit totalling 176 billion yuan, the report said. The aircraft conglomerate, which has 200 subsidiaries, was formed on November 8 by the merger of two other companies. AICC has more than 20 listed companies, total assets of over 290 billion yuan and about 400,000 employees. China hopes to build an aerospace industry capable of competing with US giant Boeing and Europe's Airbus. Share This Article With Planet Earth
Related Links Aerospace News at SpaceMart.com
Shanghai Airlines seeks capital injection
Shanghai (AFP) Feb 5, 2009Shanghai Airlines said Thursday it is in talks for an emergency government capital injection, the latest carrier to seek aid as China's air industry struggles through the economic crisis. |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2007 - SpaceDaily.AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
del.icio.us
Digg
Reddit
YahooMyWeb
Google
Facebook