Duocai Guizhou Airlines receives preliminary approval

CAAC announced (18-May-2015) preliminary approval for Guizhou Industrial Investment (Group) and Weining County Construction Investment (Group) to jointly establish Duocai Guizhou Airlines. The start-up will have capital of CNY1000 million (USD156.3 million), in which Guizhou Industrial Investment will hold a 90% stake and Weining County Construction Investment will hold the remaining 10%. Tibet Airlines chairman Xi Bo will be responsible for the preparation of the start-up, which will be based at Guiyang Airport. The carrier is approved to operate Embraer E190 aircraft. Guizhou Industrial Investment has signed labour contracts with five captains and three co-pilots, originally from airlines such as China Express Airlines, Hebei Airlines, SF Airlines, Sichuan Airlines, Juneyao Airlines and Air China Zhejiang branch company. [more - original PR - Chinese]