March 14, 2019 / 9:16 AM / 3 months ago

Hainan Airlines to sell two B737-800 aircraft, issue bonds

BEIJING, March 14 (Reuters) - Hainan airlines said on Thursday it plans to sell two B737-800 aircraft to NGF Genesis Ltd, an Ireland-based cargo company, for $27.5 million, as well as issue bonds up to 8 billion yuan ($1.19 billion) to repay debt and replenish capital.

The company also said in a statement it plans to sell 54.55 percent stake in one of its units Hainan Airlines Civil Aviation Investment to Global Aviation Ventures LLC for $30 million, and the remaining 45.45 percent stake to Azul SA for $25 million. ($1 = 6.7173 Chinese yuan renminbi) (Reporting by Beijing Monitoring Desk; Editing by Rashmi Aich)

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