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Urumqi Air gets $18mn guarantee from Hainan Airlines Holding
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Urumqi Air gets $18mn guarantee from Hainan Airlines Holding
Urumqi Air (UQ, Urumqi) has secured a CNY100 million yuan (USD14.9 million) credit facility from Bank of Beijing's Urumqi branch, backed by a corporate guarantee of up to CNY120 million (USD17.9 million) from 70% shareholder Hainan Airlines Holding. The guarantee covers the CNY100 million principal plus interest, penalties, and related costs. Urumqi Air provided a counter-guarantee to Hainan Airlines Holding.
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