Airline: Percent and Mixed-Ownership Reform

airline: The airline reported on Monday its revenue grew 3.2 percent year-on-year to 115.75 billion yuan in 2016, while its fleet expanded to more than 700 aircraft, according to Global Times China. Cargo and passenger volumes rose 8.9 percent and 4.8 percent, respectively, according to civil aviation industry news portal carnoc. The shares rose by the daily limit on the Shanghai Stock Exchange, prompting a temporary halt during the afternoon before closing 7.38 percent higher at 7.71 yuan 1.11 per share. The airline said on Monday that it will pursue mixed-ownership reform to bring in outside capital and expand its business by increasing investment in new emerging sectors, carnoc reported. The airline will also accelerate efforts to integrate its businesses and market-oriented operations through mergers and restructurings, according to the report. At its annual conference, China Southern said it will focus on investment from Internet companies and arrange share swaps or form joint ventures with industry leaders in its mixed ownership reform. (news.financializer.com). As reported in the news.