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							Dalian Zhoushuizi airport booking number is the number of
In the Air, Shenzhen Airlines business integration Taimulakai the same time,
speculation that the long-ZH equity whereabouts finally substantive progress. The
evening of March 21, Air China's announcement that: Shenzhen Air capital
increase will be 682 million yuan, in order to obtain 26% stake in Shenzhen Airlines.
So far, Air China together held 51% stake in Shenzhen Airlines hoped to accomplish
to achieve the holding of Shenzhen Airlines.
■ News
Shenzhen Airlines Air Ruyuan Holdings
Air China said in the statement, the company on March 21 and two other shareholders
of Shenzhen Airlines - Shenzhen International Total Logistics Co., Ltd. and Meeting
Yun Investment Co., Ltd. signed a capital increase agreement. Air China will invest
682 million yuan, accounting for capital increase ZH 51% stake; Total Logistics will
invest 348 million yuan, accounting for capital increase ZH 25% of the shares;
Shenzhen Airlines of the original controlling shareholders exchange profit investment
is now in liquidation phase, giving up subscription The capital increase.
Earlier, Department of profit investment, Air China and Shenzhen Airlines Total
Logistics were holding 65%, 25% and 10% of the shares.
Air China said the deal price is based on the appraised value of the assets Shenzhen
Airlines, based as determined by the shareholders a fair negotiation. As of December
31, 2009, Shenzhen Airlines net assets of about 602 million yuan; pre-tax and net loss
after tax was 769 million yuan and 863 million yuan, shareholders deficit of 2.067
billion yuan.
■ industry perspective
Seating will be three aircraft has changed
Li Lei (CSC aviation industry analyst): Air White ZH future development of the two
companies are a big positive. Air China may take the opportunity to expand its
southern territory, improvement of national distribution, but on this big tree on the Air
China's Shenzhen Airlines, Air China can also use the influence of big
brands, out of Shenzhen, to the country.
ZOU Jian-jun (China Civil Aviation Management Institute Associate Professor): ZH
ownership issues are settled, the three domestic airlines may have to re-row seating
row has. Calculated by passenger turnover, after the reorganization of China Eastern
and Shanghai Airlines, Air China, China Eastern and China Southern's new
volume of passenger transportation accounted for 23% of the market share of 24%
and 29%. Now, with Shenzhen Airlines to 6% share of possession, Air
China's share will rise to about 30%.
■ Southern reaction
Counterbalance the power of the Group held the country deep
Shenzhen Air's main rival is China Southern. Yesterday, that Air Holdings
news ZH, Li Yunxiang, general manager of China Southern, Shenzhen branch, said
the share market in Shenzhen, the two will add up to about 43% over the previous
comparable with deep market share of China Southern Air.
Li Yunxiang said that although the Air has been holding deep route, but the two sides
to achieve full integration of market resources will take time, "In addition
to the introduction of the aircraft, we will further improve service, enhance marketing
efforts, give the whole Southern States the power to contend with deep-merger to the
threat. "
Yesterday, the China Southern Air Holding Group of the absence of response to
Shenzhen Airlines.
■ Air secretaries to directorate dialogue
Commitment to the development of Shenzhen Airlines "three no
change"
Yesterday, this reporter contacted Air secretaries to directorate Huang Bin, asked him
to answer on the capital increase of Air Holdings ZH related issues.
Reporter: In 2005 Lize Yuan was spent 2.72 billion yuan scored 65% stake in
Shenzhen Airlines, the Air only took less than 700 million yuan to win a 26% stake in
Shenzhen Airlines, is not it a bit too cheap?
Huang Bin: This is based on the current value of the assets to Shenzhen Airlines
reasonable price. Notice which has published, Shenzhen Airlines currently a net loss
on equity of about 20 billion yuan.
Reporter: But Shenzhen Airlines had been declared in good shape, created during the
Spring Festival this year, 200 million yuan of profit, why is there such a big and out?
Who made the replenishment of the audit?
Huang Bin: operations and financial condition are the two concepts. This is the Board
of Directors of Shenzhen Airlines to hire a well-known auditing company, Air China
have no right to audit them. Before we see the financial report, did not know the
situation is so bad.
Reporter: Since so bad, why Air Holdings capital increase?
Huang Bin: Shenzhen Airlines as the second shareholder, we can not go watch it so
bad, otherwise it will cause the loss of Air China. And we cooperate on the two
companies are optimistic about the synergy.
Reporter: After the White Shenzhen Airlines, Air China will take measures to improve
the status of deep routes? Will be the development of strategic adjustment?
Huang Bin: you can see, we first step is to inject funds to ease tight cash flow ZH
situation. Shenzhen Airlines for the next development, we will maintain a deep route
of the "three no change": change of registration, an independent
brand and logo change, the service economy in Shenzhen and the development of the
aviation market orientation unchanged.
Reporter: Lize Yuan on hand for the remaining 24% stake in Shenzhen Airlines, Air
China is still interested?
Huang Bin: We currently have no plans to further increase ZH.
■ Press Notes
Expected unexpected
Air entered the deep route, this is expected to do, but the speed and neat operation, but
in people's surprise.
ZH Li Kun, president of the Lok Ma on March 6, after more than from all over the
media has to Shenzhen, Shenzhen Airlines snooping Air China White the latest trends,
but most of them without success. Air China announced a "surprise
attack" and let wave upon wave rushed to the Shenzhen media devoting
himself to interview all those moments lost significant external sources, including last
Sunday that just returned from Shenzhen, our reporter went back to Beijing. Looking
back from the day of Shenzhen, Shenzhen Airlines and the courtyard in full bloom in
the Kapok spring air, quiet atmosphere, I understood why - the appearance of peace in
that, under cover of darkness Air China already.
Interpretation of the story now, has not been fully concluded. Lize Yuan remaining
24% of the shares that were available, and will ultimately determine the pattern of the
new Shenzhen Airlines. But, settled, Air China has been holding for the deep routes,
the future will usher in a new person into the Council? Who? Where it is intended?
Have not much significance.
Reporter Ren Fen