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Bank Loans for Shanghai Airlines
Four banks in Shanghai Thursday signed an agreement to provide US$22.5 million in commercial loans to Shanghai Airlines.
The major aviation company will use the 12-year loans to lease two Boeing 737-700 planes.
The four banks are Shanghai Branch of the Bank of China, the Shanghai Branch of the Huaxia Bank of China, the Shanghai Branch of the Industrial and Commercial Bank of China, and the Shanghai Pudong Development Bank.
Shanghai Airlines, established in 1985, has so far opened over 100 domestic routes with its 13 Boeing airliner fleet.
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