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Order HereHainan Airlines (HNA) is expected to take a 48.21% stake in subsidiary Tianjin Airlines, paving the way for all its subsidiaries to be listed as a whole entity.
According to an HNA statement released by Shanghai Stock Exchange, the Haikou-based carrier would circulate nonpublic 6.59 billion shares to collect CNY24 billion ($3.9 billion) to become a controlling stakeholder as well as fund a fleet expansion.
HNA has previously stated it would purchase the stakes of all its airline subsidiaries including Lucky Air, Capital Airlines, Tianjin Airlines, West Air and Chang’an airlines so it could go wholly listed to avoid competition. It has already become the controlling stakeholder of Lucky Air and Capital Airlines.
HNA is scheduled to introduce 105 aircraft, comprising 36 narrowbody and 69 widebody aircraft between 2014 and 2018; it is expected to pay for 37 aircraft between May 2015 and December 2018, which is about CNY43.05 billion. The carrier revealed it would use CNY11 billion of the CNY24 billion it collected to cover part of the 37-aircraft payment.
HNA placed a firm order of 30 Boeing 787-9 aircraft in March.
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Order HereHainan Airlines (HNA) is expected to take a 48.21% stake in subsidiary Tianjin Airlines, paving the way for all its subsidiaries to be listed as a whole entity.
According to an HNA statement released by Shanghai Stock Exchange, the Haikou-based carrier would circulate nonpublic 6.59 billion shares to collect CNY24 billion ($3.9 billion) to become a controlling stakeholder as well as fund a fleet expansion.
HNA has previously stated it would purchase the stakes of all its airline subsidiaries including Lucky Air, Capital Airlines, Tianjin Airlines, West Air and Chang’an airlines so it could go wholly listed to avoid competition. It has already become the controlling stakeholder of Lucky Air and Capital Airlines.
HNA is scheduled to introduce 105 aircraft, comprising 36 narrowbody and 69 widebody aircraft between 2014 and 2018; it is expected to pay for 37 aircraft between May 2015 and December 2018, which is about CNY43.05 billion. The carrier revealed it would use CNY11 billion of the CNY24 billion it collected to cover part of the 37-aircraft payment.
HNA placed a firm order of 30 Boeing 787-9 aircraft in March.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.
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Order HereHainan Airlines (HNA) is expected to take a 48.21% stake in subsidiary Tianjin Airlines, paving the way for all its subsidiaries to be listed as a whole entity.
According to an HNA statement released by Shanghai Stock Exchange, the Haikou-based carrier would circulate nonpublic 6.59 billion shares to collect CNY24 billion ($3.9 billion) to become a controlling stakeholder as well as fund a fleet expansion.
HNA has previously stated it would purchase the stakes of all its airline subsidiaries including Lucky Air, Capital Airlines, Tianjin Airlines, West Air and Chang’an airlines so it could go wholly listed to avoid competition. It has already become the controlling stakeholder of Lucky Air and Capital Airlines.
HNA is scheduled to introduce 105 aircraft, comprising 36 narrowbody and 69 widebody aircraft between 2014 and 2018; it is expected to pay for 37 aircraft between May 2015 and December 2018, which is about CNY43.05 billion. The carrier revealed it would use CNY11 billion of the CNY24 billion it collected to cover part of the 37-aircraft payment.
HNA placed a firm order of 30 Boeing 787-9 aircraft in March.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.