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CAAC grants operating license to Fuzhou Airlines

10/20/2014| 11:02:37 AM| 中文

Hainan Airlines announced on the 17th of October that its subsidiary Fuzhou Airlines has received a business license to operate as a public air transport company.

Hainan Airlines announced on the 17th of October that its subsidiary Fuzhou Airlines has received a business license to operate as a public air transport company.   

Fuzhou Airlines is a joint venture held by Hainan Airlines, Fuzhou State Asset Investment Holdings Co.Ltd, Century Golden Resources Group, and Ningbo Ruitong Internet Technology Co Ltd. Fuzhou Airlines has 2 billion RMB in registered capital as the breakdown of capital investment between the shareholders are as follows:

Investment Company

Amount of registered capital

Percentage of registered capital

Hainan Airlines

1.2 billion RMB

60%

Fuzhou State Asset Holdings Co Ltd

400 million RMB

20%

Century Golden Resources Group

200 million RMB

10%

Ningbo Ruitong Internet Technology Co Ltd

200 million RMB

10%

Fuzhou Changan International Airport will be Fuzhou Airline’s base of operations. Its scope of operations is domestic air passenger and cargo transportation. CAAC has already approved the transfer of three Boeing 737-800 type aircraft from Hainan Airlines to Fuzhou Airlines

Hainan Airlines has always been proactive in forming “local airline” joint ventures with regional governments. In recent years Hainan Airlines attracted local investors to form subsidiaries in Beijing (Beijing Capital Airlines), Chongqing (West Air), Yunnan (Yunnan Lucky Air), and Tianjin (Tianjin Airlines). In the past two years Hainan Airlines has successively negotiated with the Fuzhou Municipal Government and Urumqi Municipal Government to form joint-venture airlines. 

(Translation by David)

TAGS: Hainan Airlines | Fuzhou Airlines | joint venture
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