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Article: AVIC ACCELERATES BUSINESS REORGANIZATION
- Article from:
- AsiaInfo Services
- Article date:
- February 12, 2009
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AsiaInfo Services
02-12-2009
AVIC Accelerates Business Reorganization
GUIYANG, Feb 12, 2009 (SinoCast Daily Business Beat via COMTEX) -- China Aviation Industry Corporation (AVIC) quickens its steps toward the business reorganization now, and 80% of its assets are expected to go public in 2010.
AVIC, which integrated its two subsidiaries, China Aviation Industry Corporation I (AVIC I) and China Aviation Industry Corporation II (AVIC II), was inaugurated on October 24, 2008 with a low profile. It reaped profit of CNY 7.2 billion in the entire 2008, with a 11.6% hike year on year, and total operating revenue rose 13% to CNY 166 billion.
Presently, the group has consolidated its transport ...