Xiamen Airlines (MF, Xiamen) has been given the official go-ahead to loan its Hebei Airlines (NS, Shijiazhuang) subsidiary a total of CNY3.5 billion (USD563.8 million) over the period July 1, 2015 to June 30, 2016. According to China's WCARN, the funds will help bolster Hebei's working capital reserves as it prepares to expand.
Xiamen Airlines, itself a subsidiary of China Southern Airlines (CZ, Guangzhou), bought all of Hebei Airlines' total stock during the last quarter of 2014 in a series of transactions valued at approximately CNY750 million (USD120 million).
Currently, Hebei operates a fleet of two B737-700s, four B737-800s, and five E190s on flights to twenty-six destinations located throughout China.
