Capital injection imminent for Shanghai Airlines

"Shanghai Airlines suspended trading in its shares yesterday as it anticipated a capital injection from the government. SAL noted in a statement that it is discussing with stakeholders an effort to reduce its debt ratio, which Board Secretary Xu Junming confirmed will occur through a capital injection. Its debt ratio was 91.4% on Sept. 31, 2008. Chairman Zhou Chi previously revealed that the airline requested approximately CNY3 billion ($438.5 million) from the Shanghai municipal government, SAL's controlling shareholder at 35.7%."