Ningbo Airlines is a proposed Chinese start-up backed by Hainan Airlines Group and the City of Ningbo. Ningbo Airlines plans to base itself at Ningbo Lishe International Airport and expects to operate a fleet of 16-20 aircraft by 2020. Ningbo Airlines was officially registered on 25-Mar-2016 with Ningbo Donghai Industrial Investment Co listed as its parent company. The carrier has a registered capital of CNY1000 million (USD167 million), with Ningbo Donghai Industrial Investment Co having a registered capital of CNY6.0 billion (USD1.0 billion), 40% from Ningbo City and 60% from HNA Group. Ningbo Airlines is expected to commence operations as early as 2016, with plans to expand its fleet to 16-20 aircraft within five years. The start-up planned to commence operations by end-2016 as a low-cost carrier. A revised launch date has not been specified.
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