The Bank of China,one of the country's major banks,is to provide financial support to the fleet expansion project of the Shanghai Airlines before 2005,according an agreement signed yesterday.
Under the agreement,the bank will offer two billion yuan (about US$240million)in credit and US$180million in financial guarantee to Shanghai Airlines.
Established in 1985 as the first regional airline company,Shanghai Airline owns 23Boeing passenger planes with 144,000seats available every week.
( eastday.com January 23, 2002)
