Hainan Airlines is set to get a capital injection of US$440 million from its parent company and the Hainan provincial government by selling them new shares, according to Dow Jones. Hainan Airlines’ debt-to-asset ratio will fall to around 81 per cent after the injection, an un-named source was quoted as saying. The carrier had a debt-to-asset ratio of 87 per cent at the end of March. The airline joins other Chinese carriers, including China Eastern Airlines, China Southern Airlines … [Read more...] about CHINA: Hainan Air to get $440 million bailout
Air Freight Logistics
CHINA: First Chinese A320 takes to the skies
Airbus first China-assembled aircraft took to the skies recently with the first flight of an A320 in the skies over Tianjin. The 180-seat aircraft, the first to be built outside of Europe, is the first of what is expected to be more than 700 jets to be assembled by the Airbus-Chinese partnership which includes the Tianjin Free Trade Zone and China Aviation Industry Corporation.Under the arrangement the aircraft are built to pre-assembly stage at Hamburg and then shipped in kit form to China for … [Read more...] about CHINA: First Chinese A320 takes to the skies
CHINA: China Eastern looks to another hand-out from Beijing
China Eastern Airlines (CEA) is expected to receive a further CNY2 billion (US$294 million) capital injection from the Chinese government to help thestruggling carrier survive. This follows an earlier CNY7 billion hand-out from Beijing at the end of 2008 but did little to relieve its debt burden of CNY83.7 billion as of 31 March which amounted to a debt ratio of 115 per cent. Industry pundits have speculated the bailout money is meant to pave the way for the long-talked about merger with … [Read more...] about CHINA: China Eastern looks to another hand-out from Beijing
CHINA: Grand China Express becomes Tianjin Airlines
Hainan Airlines Group has announced plans to relaunch its Grand China Express Airlines subsidiary as Tianjin Airlines from early June. Grand China had been operating 10 E-190s, 12 ERJ-145s and 29 Do 328-300s on more than 80 domestic routes. The Tianjin government agreed, in December, to inject CNY200 million (US$29.3 million) into Grand China, giving it a 15.4 per cent stake in the new carrier, with Hainan holding 83.4 per cent and its subsidiary, Hainan Airlines holding the remainder. … [Read more...] about CHINA: Grand China Express becomes Tianjin Airlines
CHINA: China South, AF-KLM cargo JV on hold
China Southern Airlines and Air France-KLM have postponed their cargo joint venture, according to China Southern chairman Si Xianmin. “Based on the original plan, our cargo JV with AF-KLM should have been launched in the first quarter. But we have to reconsider this plan after taking the current marketsituation into account,†Si said. China Southern signed a framework agreement with AF-KLM in the middle of last year to launch a cargo joint venture in which the Guangzhou-based … [Read more...] about CHINA: China South, AF-KLM cargo JV on hold
CHINA: Yangtze River Express begins DFW service
Yangtze River Express has added its second US destination and fourth international. China’s Yangtze River Express, majority owned by the Hainan Air Group (85 per cent) with Hainan Airlines Co (five per cent) and Shanghai Airport Group (10 per cent), has launched a new four-times weekly service between Shanghai Pudong International Airport and Dallas Fort Worth (DFW) International Airport. This is the second US destination for the carrier, after Los Angeles, and the fourth … [Read more...] about CHINA: Yangtze River Express begins DFW service
