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Hainan Airlines parent, HNA Group, supercharged for growth

31-Jan-2010

HNA Group is one of the most fascinating growth stories in Chinese aviation, tourism and related sectors. Having aggressively expanded its asset base (integrating horizontally and vertically) over the past decade, HNA has extremely diversified revenue streams, geographic spread and exposure to many fast-growing sectors of the powerhouse Chinese economy. It is now a large multi-industry conglomerate company with a total asset base of approximately USD25 billion. But is also one of the more opaque aviation operators in China, with highly complex ownership and risk-sharing structures. A growing property bubble in its hometown of Hainan and moves by Beijing to limit credit growth amid a surge in economic activity across the Chinese economy could however slow the ambitions of groups like HNA. [5764 words]

Unlock the following content in this report:

Subheadings:

  • Hong Kong Aviation Company completes the acquisition of Allco Aviation's business and assets
  • Allco not the last stop in acquisition agenda
  • PART I: THE GROUP
  • PART II: THE AIRLINES
  • PART III: AIRPORTS
  • PART IV: TOURISM GROUP (including airlines)
  • Outlook: Supercharged for growth

Graphs and data:

  • HNA Group businesses
  • HNA Group businesses: Summary
  • Hainan Airlines fleet composition: Dec-2009
  • Grand China and Hainan Airline logos
  • Property Right and Controlling Relationship between the Actual Controller and Hainan Airlines Company: 2008
  • Number of Shareholders and Particulars about Shares Held: 2008
  • Hainan Airlines livery
  • Hainan Airlines revenue and operating profit margin trend graph: 31-Dec-2001 to 30-Sep-09
  • Hainan Airlines traffic highlights: Dec-2009
  • Hainan Airlines freight and passenger growth: Dec-2008 to Dec-2009
  • Hainan Airlines traffic (RPKs) growth: Feb-2007 to Dec-2009
  • Hainan Airlines capacity (ASKs) growth: Feb-2007 to Dec-2009
  • Hainan Airlines network changes (international in bold): 1H2010
  • Hainan Airlines international network: Jan-2010
  • Hainan Airlines domestic network: Jan-2010
  • Hainan Airlines fleet composition: Dec-2009
  • Hainan Airlines’ fleet growth (units): 2007 to 2011
  • Hainan Airlines total Assets (CNY billion) and Liabilities/Assets ratio trend: 31-Dec-2001 to 30-Sep-09
  • HNA Group airlines’ fleet growth (units): 2007 to 2011
  • Hong Kong Airlines/Hong Kong Express network
  • Hong Kong Airlines fleet orders: Jan-2010
  • Hong Kong Airlines aircraft delivery schedule: 2010 to 2015 (as of Nov-2009)
  • Yangtze River Express
  • HNA Airport Group Company businesses: Summary
  • HNA Tourism Group Company businesses: Summary
  • HNA Tourism Group airlines’ logos
  • Tianjin Airlines network: Jan-2010
  • Tianjin Airlines’ fleet growth (units): 2007 to 2011
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