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Hainan AirlinesHolding is channelling away funds earmarked for aircraft purchase into permanent working capital.In August 2016, the company raised gross proceeds of about CNY16.5 billion $2.5 billion from a private placement of over 4.6 billion domestic A-shares at CNY3.58 each.Source: FlightGlobal file photoHainan Airlines Holding is channelling away funds earmarked for aircraft purchase into permanent working capital.Of this amo
stanley cup unt, CNY11 billion was allocated to the purchase of 37 aircraft, which was projected to cover about 25% of the total cost. The remaining CNY5.55 billion was meant for the acquisition of a 48.21% stake inTianjin Airlines.The company said on Wednesday in a Shanghai Stock Exchange disclosure that unused funds will go towards permanent working capital. As of 15 December, the amount is CNY1.46 billion before interest and financial income, and is part of the CNY11 billion allocated to the aircraft purchase.Working capital is an indication of a companys ability to meet short-term obligations and fund its daily operations. Permanent working capital typically represents the baseline capital requirements and tends to remain constant regardless of business activity.Hainan says it made the decision based on current market conditions and highlights the need to match its fleet and capacity, against the backdrop of the pandemic. Doing so will also reduce depreciation costs on idle assets.The company expects the
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A public lands bill that would improve access to the Katahdin Woods and Waters National Monument was unanimously passed in the Senate.The bill would allow the National Park Service to acquire almost 2,500 acres, either through purchase or easement, to provide southern vehicle access to the monument.Brian Hinrichs, executive director for the Friends of Katahdin Woods and Waters, said the owners of the logging roads connec
stanley flask ting the monument to Millinocket as well as c
stanley tazas ommunity members are in favor of the bill.Our passion for this bill really comes from the community support for it. You know, people want to see more connectivity between Katahdin woods and waters National Monument and southern communities, including Millinocket, Hinrichs said.Hinrichs said the biggest concern now is that the U.S. House will not have time to pass the bill before the end of the legislative session.There just so much going on in the house that I think the concern is that time will run out, and nego
vaso stanley tiations on the larger funding packages will obscure progress on some of these other issues, Hinrichs said.The U.S. House will need to pass the bill for it to become law, only then negotiation between the Parks Service and the current landowners can begin.This article appears through a media partnership with聽Maine Public.More articles from the BDN
