Chinese internet giant Tencent has invested in WeFlyShare Aviation Technology (Hainan), an inflight Wi-Fi service startup backed by debt-ridden conglomerate HNA Group.
According to company information platform Tianyancha, WeFlyShare was founded in May 2020 with RMB 1 million (USD 160,000) in registered capital. Its business operations include internet and information security software development and IT system integration services. Among its investors was HNA Group, which is now in liquidation with USD 187 billion of debts.
Last October, HNA Group’s subsidiary Lucky Air signed a strategic agreement with Yunnan Tengyun Information Industry and WeFlyShare to develop and operate businesses that integrate aviation technology with the travel industry in southwestern province Yunnan.
The three parties hope to provide full service for travelers going to Yunnan, improve service quality and customer experience, and promote the pilot and implementation of their innovative service solution.
Tencent has made a few investments in the air travel sector. In March, it teamed up with the Trip.com Group to invest in setting up Suzhou Tongcheng Air Travel Technology, a software and information technology company with RMB 68 million (USD 11 million) in registered capital.
Tencent’s participation in travel technology is helping airlines improve inflight digital experiences. In 2019, Lucky Air established cooperation with Tencent to build digital cabins. The goal was realized this May. Lucky Air became the first to be equipped with "smart flight" LAN of digital cabins accessing the internet giant's rich video, music, information and other content resources. Passengers can connect to the Cabin LAN to enjoy a rich entertainment experience in a long journey.