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Hainan Airlines Announces Grand China Airline's Opening
December 3, 2007 |
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Hainan Airlines announced that Grand China Airlines has opened for operation.
HNA Group has incorporated services from Hainan Airlines, Xinhua Airlines, Shanxi Airlines and Changan Airlines to establish Grand China Airline. And this new airline is preparing for a public listing soon. Chen Feng has also resigned his board chairman position of Hainan Airlines to take the same position in Grand China Airlines.
Zhu Yimin, new chairman of Hainan Airlines and president of Grand China Airlines, said that the registered capital of the new entity is RMB3.086 billion, of which Hainan provincial government holds 48.61% of the business and HNA Group with its affiliated enterprises accounts for 32.75%.
Grand China Airline's initial flight between Beijing and Dalian started on November 30. The company will open another five domestic routes from now on including from Beijing to Sanya, Harbin, Nanchang, Nanning, and Guilin. Its operations base is located at Beijing Capital International Airport.
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