Shenzhen's SF Express launches bond sale to raise cash for freighters
SHENZHEN's SF Express has launched a bond sale that aims to raise CNY5
SHENZHEN's SF Express has launched a bond sale that aims to raise CNY5.8 billion (US$825 million) to buy new aircraft, reports London's Air Cargo News.
The Chinese express giant said that it would spend CNY1.52 billion of the money raised on aircraft for its fast-expanding SF Airlines division.
Meanwhile, CNY1.49 billion will be spent on developing a logistics information platform. More of the cash will be spent on upgrading an automated transportation system, adding extra land transport capacity and on paying off loans and reducing its asset ratio.
SF Airlines has seen its fleet and network grow rapidly over the last few years. Earlier this month the Shenzhen-based carrier added its second service to India, while in September it added a service to Europe from China.
Its fleet currently stands at 57 freighter aircraft, including two B747-400Fs, 30 B757-200Fs, eight B767-300Fs, 14 B737-300Fs and three B737-400Fs, flying to more than 60 cities.