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HNA Group to set up five new airlines as CAAC relaxes control

24-May-2013 11:36 AM

Hainan Airlines parent HNA Group reportedly established five planning groups in early May-2013 with the aim of receiving CAAC approval for its five new airlines quickly, including its proposed Urumqi Airlines, Heilongjiang Airlines, Chang’an Airlines, Fuzhou Airlines and Guangxi Airlines (NetEase, 23-May-2013). The five planning groups are expected to select their members within two weeks. HNA reportedly said financing is the major task in the establishing of the five airlines, and plans to invest no more than CNY5000 million (USD781 million) into the five new airlines. As previously reported, CAAC director general Li Jiaxiang, speaking at the 2013 China Civil Aviation Development Forum recently, said China will relax control on issuing operating licences to airlines and cut administrative approvals on new airlines branches and routes.