News Listings for China Xinhua Airlines

  • HK Airlines adds its first 737F

    News | 14 Jan 2010 08:58 | Leithen Francis

    Hong Kong Airlines has received its first Boeing 737 freighter and plans to operate it on the Hong Kong-Hangzhou route. The aircraft is the first of...
  • Hainan Airlines takes large minority stake in CR Airways

    News | 26 Jun 2006 23:00

    <P><STRONG><FONT size=1>By Leithen Francis in Singapore</FONT></STRONG></P> <P>Hainan Airlines has bought a large minority stake in CR Airways, leading to a top-level management change in the Hong Kong carrier. A senior source at CR Airways says Hainan Airlines has bought a 45% stake in CR Airways and this stake will be transferred to Grand China Air, a new holding company which Hainan Airlines is establishing to house its airlines.</P> <P>Hong Kong businessman Robert Yip, head of Hong Kong company China Rich Holdings, is the major owner of CR Airways, but Hainan Airlines secured its 45% stake by buying some convertible notes held by Yu Ming Investments. Yu Ming is a publicly-traded company in Hong Kong that owns hotels and office buildings, as well as a large minority stake in Asia World Expo, Hong Kong’s new exhibition centre next to Hong Kong airport.</P> <P>As for management changes, Ren Wei Dong is appointed executive president of CR Airways. Ren was previously an executive in
  • Shanghai Airlines buys China United

    News | 31 Aug 2004 23:00

    <p>The final elements of China's long-running airline consolidation effort are in place, with Shanghai Airlines agreeing to acquire Beijing-based China United Airlines.</p> <p>Observers see it as a strategic move aimed at giving Shanghai Airlines a second base from which to launch its first long-haul international services. The acquisition is also intended to cement the Shanghai carrier's status as the country's fifth dominant airline grouping after the &quot;big three&quot; of Air China, China Eastern and China Southern Airlines, plus fellow &quot;independent&quot; Hainan Airlines.</p> <p>Shanghai Airlines, which has an extensive domestic network and limited international services, is acquiring China United for 70 million yuan ($8.5 million). It says that for now at least China United will continue to operate flights under its own name and code. Shanghai Airlines is to pay 15 million yuan initially and the remaining 55 million yuan upon completion of the takeover.</p> <p>China Unit
  • Shanghai buys China United from air force

    News | 09 Aug 2004 23:00

    <p>China's Shanghai Airlines has secured a strategic secondary operations base in Beijing through a deal to acquire air force-controlled China United Airlines.</p> <p>Shanghai Airlines has agreed to pay 70 million yuan ($8.5 million) for China United, which for now will continue to operate flights under its own name and designator code. The Beijing-based carrier is controlled by China's air force and operates domestic government VIP flights as well as limited domestic charter and scheduled passenger services, using about 20 Western and former Soviet-era aircraft.</p> <p>The deal is strategic for Shanghai Airlines, which from its Shanghai base has remained independent of the country's three main carriers, Beijing-based Air China, Shanghai-based China Eastern Airlines and Guangzhou-based China Southern Airlines. The &quot;big three&quot; have been expanding through government-supported takeovers of smaller carriers in recent years.</p> <p>China's other major independent airline group,
  • Air China buys Shandong

    News | 31 Mar 2004 23:00

    <p>A second phase of consolidation is taking place in China, with flag carrier Air China buying a sizeable minority stake in domestic operator Shandong Airlines.</p> <p>The deal was confirmed early in March. Shandong says Air China paid more than 500 million yuan ($60 million), acquiring 22.8% of the airline directly and more than 40% of holding company Shandong Aviation Group.</p> <p>Shandong Airlines is based in the northeast Chinese city of Jinan and is one of few remaining "independent" carriers. It operates to nearly 50 Chinese destinations with a fleet made up of Boeing 737-300s, Bombardier CRJ-200s, CRJ-700s and Saab 340Bs. It also has codeshare relationships with Air China and China Southern Airlines.</p> <p>Air China had been working on the Shandong buy-in for some time. Observers see it as another phase in the ongoing consolidation of China's crowded airline sector as it is now involving more second-tier carriers. Further tie-ups between the country's "big three" airlines
  • Hainan set to rival China's big three airline groups

    News | 10 Feb 2004 00:00

    <p>LEITHEN FRANCIS / SINGAPORE</p> <p>Carrier plans change of name and base in effort to become a major player by 2010</p> <p>China's three main airline groups are to face increased competition from fast-growing Hainan Airlines, which is working to cement its status as the country's fourth airline grouping, and Shanghai Airlines, which is also planning long-haul international services.</p> <p>Airlines sources say Hainan plans to change its name to Grand China Airlines and move its base from Haikou, on southern China's Hainan island, to the national capital Beijing. The change is expected around June. Hainan has long held hopes of being a major international brand by 2010.</p> <p>Hainan already has a majority stake in Beijing-based China Xinhua Airlines and is looking to merge its own operations with this carrier and another two of its subsidiaries - Changan Airlines and Shanxi Airlines - to create a single airline company with more than 90 aircraft.</p> <p>A move to Beijing would