Air China's parent company has received a 1.5 billion yuan ($219.7 million) capital injection from the Chinese government to fund the airline's earlier purchase of a stake in its cargo arm.
Granted by the ministry of finance, the funds will be injected by China National Aviation Holding into Air China, says the carrier.
The capital will pay for the airline's purchase of a 24% stake in Air China Cargo from Capital Airports, adds the airline.
In April 2009, Air China said it would purchase the stake for 718 million yuan, increasing its share in the cargo operator to 100% from 76%.
As the acquisition is already completed, the capital injection will be used to replenish the airline's internal funds, says Air China.
Source: Air Transport Intelligence news
