Air China has increased its 51% stake in subsidiary Air Macau to almost 81% following a capital injection into the loss-making airline.
This comes after its board approved a contribution of 158 million Macau pataca ($20 million) to the share capital of Air Macau, says the Star Alliance carrier.
"As some of the shareholders, whose shareholdings in total amount to approximately 27.5% of the total issued share capital of Air Macau prior to the implementation of the capital injection plan, chose not to contribute to the share capital of Air Macau, the company's shareholding in Air Macau will increase to 80.8625%," says Air China.
It adds that the capital injection will "further support the company's investment in Hong Kong and Macau and would further help its consolidation of the shareholding in Air Macau".
Source: Air Transport Intelligence news