Huazhu expects net revenues to decline 32% to 34% year-over-year in the second quarter of 2020, or 35% to 37% if excluding the addition of Deutsche Hospitality.
The deal is a “strategic one” for one of the world’s largest fleet management companies.
The company plans to raise USD 500 million by offering 50 million units at USD 10.
The combination of the investment and the credit agreement amendment will strengthen its financial profile.
Tuniu has not been profitable for the past six years as a public company. As of June 26 this year, the company's market capitalization was around USD 140 million.
Air Canada says it now expects to end the second quarter of 2020 with about $9 billion in liquidity.
The deal would give the Caissa Group 21.1% shares of Tuniu in total.
Chinese hotel tech giant was granted three more months to divest all its interests in the acquisition of a US startup.
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