Juneyao Air's Controlling Shareholder Sells 3% Stake
Shanghai Juneyao (Group) Co., the controlling shareholder of Juneyao Air, has reduced its stake in the airline by approximately 3%. The company sold the shares through a block trade on the Shanghai Stock Exchange. According to a regulatory filing, the proceeds from the sale are intended to repay debts and supplement working capital for the parent group. This transaction reduces the group's total holding in the airline from 54.71% to 51.71%. The move provides the Juneyao Group with greater financial flexibility while ensuring it maintains a controlling interest in the carrier.
Official Source: https://www.ch-aviation.com/news/165050-controlling-shareholder-of-chinas-juneyao-trims-3-stake
Related Aviation News:
- Juneyao Air To Expand Stake In China Eastern Airlines
- Chairman of Hainan Airlines’ New Owner Fangda Buys Stake in Juneyao Airlines
- ANALYSIS: Juneyao, China Eastern tighten Shanghai grip | Airline Business
- New airline will tap growing demand for flights to ‘China’s Hawaii’
- Juneyao Air dumps half its shares in China Eastern