“Market Cap $3.62 B As of May 2014
At a Glance
- Industry: Airline
- Founded: 1989
- Country: China
- CEO: Lu Liu
- Website: www.hnair.com
- Employees: 10,347
- Sales: $4.83 B
- Headquarters: Haikou
#1731 Global 2000
- #1742 in Sales
- #1587 in Profit
- #1195 in Assets
Hainan Airlines Co. Ltd. is engaged in providing domestic aeronautic transportation to passengers and cargoes. It also provides domestic business chartering services, aeronautic maintenance and services, air traveling and on-board food supplies, and repair services. Other activities include manufacturing aeronautic field equipments and components, plane and landing equipments, selling of plane ticket, cargo and other related services, developing of hotels and managing properties. The company was founded on May 2, 1993 and is headquartered in Haikou, China.“
“Hainan Airlines History and development
Hainan Airlines was established in October 1989 as Hainan Province Airlines in Hainan, the largest special economy zone in China. It was then renamed as Hainan Airlines and became China’s first joint-stock air-transport enterprise in January 1993 and began scheduled services on 2 May 1993.
Fleet expansion and purchased the airport
Executive-jet operations with a Bombardier Learjet 55 were added in April 1995. In 1998, Hainan Airlines became the first Chinese carrier to own shares in an airport after it purchased 25% stake of Haikou Meilan International Airport.
Establishment of holding company
In 2000, HNA Group (Hainan Airlines Group, S: 海航集团, T: 海航集團, P: Hǎiháng Jítuán) was established which became parent company of Hainan Airlines. It also controlled Shanxi Airlines, Chang’an Airlines and China Xinhua Airlines.
By 2003 Hainan, the main airline, overtook Chang’an as the fourth largest airline in China.
Merger of subsidiaries and Grand China Airlines Holding Company
On November 30, 2007, a new company called Grand China Airlines Holding Company (GCAHC) was formed under the initiative of the HNA group’s largest operational entity, Hainan Airlines. The airline planned to merge its operations with all HNA Group’s aviaition subsidiaries. The new holding company was held jointly by Hainan province government (48.6%), HNA group (32.8%) and George Soros (18.6%). As a result, a new airline called Grand China Air was founded. According to the plan, the former four airlines under HNA group, Hainan Airlines, Shanxi Airlines, Chang’an Airlines, and China Xinhua Airlines should be transferred into Grand China Air in the near future.
In addition, HNA Group also invests in other airlines, including Beijing Capital Airlines (70%), Lucky Air (67.95%), Zest Airways (undisclosed but approximated to be at 40%), Africa World Airlines (42%), Tianjin Airlines (20%), Yangtze River Express (51%), Hong Kong Airlines (45%), Hong Kong Express Airways (45%) and Aigle Azur (48%).
Contemporary history (2012–present)
Hainan Airlines also plan to set up a Cargo division operating freighter aircraft in 2012 and invest in Turkish carrier ACT Airlines Cargo.”
*Information from Forbes.com and Wikipedia.org
**Video published on YouTube by “HainanAirlines“