[photopress:air_hainanairlines_logo.jpg,full,alignright]Next year should see the launch of Grand China Air, a new carrier to consolidate four domestic airlines. The new company will consolidate operations of Hainan Airlines, Xinhua, Chang’an and Shanxi.
Chen Feng, chairman of Hainan Airlines, the parent company made the announcement. He said preparations will be finalized before the end of this year and the new carrier will be inaugurated early next year.
Hainan Airlines, based in Haikou, is China’s fourth largest carrier, as well as its first ever Sino-foreign joint venture airline company, with international financier George Soros being one of its leading shareholders.
In the next five years Chen Feng said he wishes to make Hainan Airlines one of the world’s top 20 carriers in terms of seat occupancy rate, revenue and profits. He said, ‘Chinese entrepreneurs should face up to the globalization drive.’
Chen Feng says he and his colleagues are aimed at improving services ‘to the levels of international big names such as Singapore Airlines and Cathay Pacific Airways’.
Hainan Airlines, founded in 1993, was a latecomer in China’s aviation industry. It started with only two rented Boeing 737 and RMB10 million of total assets. Now it is going to be Grand China Air and will, at the very least, be the fourth biggest airline in China.
Source: China Daily