HNA Group approved to establish Urumqi Airlines

HNA Group and Urumqi Urban Construction Investment Co Ltd's application to jointly establish Urumqi Airlines Co Ltd has received preliminary approval from CAAC Xinjiang Regional Administration. Details of the new company are as follows:

• Total investment: CNY3000 million (USD492 million). HNA Group will be the controlling stakeholder with 70% holding with investment in cash or in kind while the remaining 30% will be contributed by Urumqi Urban Construction Investment in cash;
• Business type: limited liability company;
• Person in charge of JV: Zhang Jingsheng, GM Hainan Airlines Xinjiang branch;
• Airport base: Urumqi Diwopu International Airport;
• Business scope: Licenced for domestic (including Hong Kong, Macau and Taiwan) and international passenger and cargo transportation businesses;
• Approved fleet: Boeing 737;
• Source of professional and technical personnel: Initially, the new airline will introduce professional & technical staff from HNA Group including pilots, mechanics, flight dispatchers, cabin crew. [more - original PR - Chinese]