China Southern Airlines shares suspended
(Reuters)
Updated: 2006-10-16 14:10
Trading in shares of China Southern Airlines Co. Ltd was suspended on Monday,
pending a statement on a substantial acquisition, the airline said, without
providing details.
The company declined to comment, pending a statement expected to be released
tomorrow.
China Southern Airlines had said on Friday that the delivery schedule of the
A380 airbus would be postponed and the delay would not have any significant
impact on its business, operations and financial performance.
It made the statement on Friday in response to press reports that it might
receive US$250 million in compensation for the delayed delivery of the aircraft.
The airline also said last Friday that it expected to see a substantial
increase in its earnings for the first nine months of 2006 compared with the
same period a year ago, benefitting from improved operations and a gain in the
yuan currency against the U.S. dollar.
Shares of China Southern Airlines ended at HK$2.46 on Friday.
They are up 10.6 percent so far this year. (For more biz stories, please visit Industry Updates)
|
