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Order HereAir China’s subsidiary Shandong Airlines will sell its 20% stake in Qingdao Airlines for CNY200.8 million (32.8 million).
In July, Shandong Airlines transferred its 20% stake to a subsidiary of Nanshan Group, but Shandong Airlines so far hasn’t identified which company would purchase the stake.
The Qingdao-based carrier has a registered capital of CNY1 billion, in which Nanshan Group holds 55% ownership, while Shandong Airlines holds 20% and Qingdao Transport Development Group (QTDG) holds the remaining 25%. In August, QTDG sold its 25% stake in Qingdao Airlines to Nanshan Group for CNY251 million.
After the deal is complete, Qingdao Airlines is expected to be renamed as “Xinlong Airlines.” Qingdao has posted consecutive net losses since its launch in June 2013. It posted a net loss of CNY29.16 million in 2013 and CNY172 million in 2014. It also reported a net deficit of CNY105 million for the first seven months of this year.
Qingdao operates six Airbus A320-200s on more than 18 domestic routes. It plans to expand its fleet to 50 aircraft in 2020 and to 100 in 2025.
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 HereAir China’s subsidiary Shandong Airlines will sell its 20% stake in Qingdao Airlines for CNY200.8 million (32.8 million).
In July, Shandong Airlines transferred its 20% stake to a subsidiary of Nanshan Group, but Shandong Airlines so far hasn’t identified which company would purchase the stake.
The Qingdao-based carrier has a registered capital of CNY1 billion, in which Nanshan Group holds 55% ownership, while Shandong Airlines holds 20% and Qingdao Transport Development Group (QTDG) holds the remaining 25%. In August, QTDG sold its 25% stake in Qingdao Airlines to Nanshan Group for CNY251 million.
After the deal is complete, Qingdao Airlines is expected to be renamed as “Xinlong Airlines.” Qingdao has posted consecutive net losses since its launch in June 2013. It posted a net loss of CNY29.16 million in 2013 and CNY172 million in 2014. It also reported a net deficit of CNY105 million for the first seven months of this year.
Qingdao operates six Airbus A320-200s on more than 18 domestic routes. It plans to expand its fleet to 50 aircraft in 2020 and to 100 in 2025.
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 HereAir China’s subsidiary Shandong Airlines will sell its 20% stake in Qingdao Airlines for CNY200.8 million (32.8 million).
In July, Shandong Airlines transferred its 20% stake to a subsidiary of Nanshan Group, but Shandong Airlines so far hasn’t identified which company would purchase the stake.
The Qingdao-based carrier has a registered capital of CNY1 billion, in which Nanshan Group holds 55% ownership, while Shandong Airlines holds 20% and Qingdao Transport Development Group (QTDG) holds the remaining 25%. In August, QTDG sold its 25% stake in Qingdao Airlines to Nanshan Group for CNY251 million.
After the deal is complete, Qingdao Airlines is expected to be renamed as “Xinlong Airlines.” Qingdao has posted consecutive net losses since its launch in June 2013. It posted a net loss of CNY29.16 million in 2013 and CNY172 million in 2014. It also reported a net deficit of CNY105 million for the first seven months of this year.
Qingdao operates six Airbus A320-200s on more than 18 domestic routes. It plans to expand its fleet to 50 aircraft in 2020 and to 100 in 2025.
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.