Macau’s flagship carrier Air Macau will hold a general assembly meeting of its shareholders to deliberate on an increase of capital thorough cash injection, according to local newspaper Journal Tribuna de Macau (JTM).
This comes against the background of over MOP500 million losses recorded in this year’s first half.
JTM reports that despite being Air Macau’s main shareholder, Air China is unlikely to bear the cash injection as the national flagship carrier hasn’t informed yet the Stock Exchange of the operation. The Macau SAR Government, which owns 21.5 per cent of the airliner, is thus likely to move on with the capital increase, the newspaper adds.
This is set to be Air Macau’s third financial restructuring since 2009.