By Ben Otto

China Southern Airlines Co. plans to list a wholly owned cargo-logistics unit to attract capital, it said Wednesday.

The carrier said it intends to list China Southern Airlines Cargo Logistics (Guangzhou) Co. on the Shanghai United Assets and Equity Exchange, recruiting as few as one and as many as 15 strategic investors through a capital increase.

Upon completion of the capital increase, China Southern Airlines will remain the unit's controlling shareholder, it said.

The airline said it would determine final investors and transaction prices in the course of competitive negotiations.

The plan comes after the state-owned company swung to a deep loss in the first half as the Covid-19 pandemic crimped global air travel. 



  Write to Ben Otto at ben.otto@wsj.com