CHINA: Hainan Airlines Sells Its Building For US$190M

Hainan Airlines, the largest civilian-run air transport company in China, says it has sold its wholly-owned subsidiary, Beijing Guosheng Property Management Co. Ltd., in a deal worth 1.299 billion yuan (US$190 million).

According to the report, 100% of the equity will be transferred to the Beijing Houpu Yunde Investment Management Partnership, which is 99.99% held by Beijing Vanke Enterprise Limited Company, a wholly-owned subsidiary of real estate giant Vanke Group.

The target company, Beijing Guosheng, was newly established by Hainan Airlines in July this year, having an estimated value of 1.739 billion yuan. Its main asset is the Beijing Hainan Airlines Building.

Hainan Airlines is part of HNA Group’s Aviation & Tourism arm. It is not unusual for HNA Group to sell off assets. The Chinese conglomerate sold its original headquarters, Wanghai Science and Technology Plaza, to Sunac China in August.

Meanwhile, Jinjiang International confirmed that it would acquire a 100% stake in the Radisson Hotel Group from HNA Group.

Hainan Airlines Co., Ltd. is an airline headquartered in Haikou, Hainan, People's Republic of China. It is the largest civilian-run air transport company, the fourth-largest airline in terms of fleet size in the People's Republic of China, and tenth-largest airline in Asia in terms of passengers carried.

It operates scheduled domestic and international services on 500 routes from Hainan and nine locations on the mainland, as well as charter services. Its main base is Haikou Meilan International Airport, with a hub at Beijing Capital International Airport and several focus cities.

Hainan Airlines was established in October 1989 as Hainan Province Airlines in Hainan, the largest special economic zone in China. Hainan Province Airlines became China's first joint-stock air-transport company following a restructuring in January 1993 and began scheduled services on 2 May 1993.

The initial 250 million yuan (US$31.25 million) was financed by the Hainan government (5.33%) and the corporate staff (20%). The rest came from institutional shareholders. In 1996, the provincial airline was renamed Hainan Airlines.

American Aviation LLC, controlled by George Soros, had been a major shareholder of the airline since 1995.

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.

In 2000, HNA Group was established and became the third largest shareholder (7.31%) 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.

In 2007 Grand China Air was established as the new holding company, when American Aviation became its subsidiary.

On 29 September 2005, HNA Group ordered 42 Boeing 787-8s, 10 of which were earmarked for the Hainan Airlines fleet. In January 2006, China Aviation Supplies Import and Export Group Corporation ordered 10 Boeing 737–800s for Hainan Airlines.

In September 2006, Hainan Airlines ordered another 15 Boeing 737-800s.

On 4 December 2007, Hainan Airlines acquired three Airbus A340-600s on lease from International Lease Finance Corporation. On 14 November 2007, Hainan Airlines received its first Airbus A330-200.

In June 2007, Hainan Airlines ordered 13 Airbus A320-200 aircraft. In late 2007, Hainan Airlines ordered 50 Embraer ERJ-145s and 50 Embraer 190s, with a total value at list price of $2.7 billion USD.

The 50-seat ERJ-145s were produced by the Harbin Embraer Aircraft Industry (HEAI) joint venture, located in Harbin. E-190 deliveries began in December 2007. Due to the global financial crisis and huge losses incurred in 2008, the ERJ-145 order was reduced to 25. The E-190 order remained unchanged.

On 25 March 2015, Hainan Airlines announced its intention to acquire 30 Boeing 787-9s, which are all to join the Hainan Airlines Fleet. The delivery of the aircraft is scheduled to be completed by 2021.

Two leased Boeing 787-9 aircraft were delivered in Spring 2016. Hainan Airlines will also be among the first operators of the COMAC C919, with deliveries beginning in the 2020s.

Hainan Airlines and the HNA Group have their headquarters in the HNA Building in Haikou, Hainan with other office premises HNA Tower in focused cities including Beijing, Chongqing, Guangzhou and Shanghai.

It was previously headquartered in the HNA Development Building a.k.a. the Haihang Development Building along Haixiu Road in Haikou.

As of 31 December 2016, Grand China Air is the direct parent company of Hainan Airlines (24.33% shares directly; an additional 1.29% shares via a subsidiary American Aviation LDC), which was partially owned by Hainan Development Holdings (24.97%), HNA Group (23.11%), Starstep (9.57%), Haikou Meilan International Airport (8.30%), Shenhua Group (5.56%) and other shareholders.

HNA Group owned 3.53% shares directly and via Changjiang Leasing, owned an additional 3.08% shares as the second largest shareholder. Haikou Meilan International Airport was the third largest shareholder for 5.13% shares.

Moreover, HNA Group also owned Haikou Meilan International Airport partially, as well as Hainan Airlines as cross ownership. A private equity fund that was managed by Shanghai Pudong Development Bank, owned 4.91% shares as the fourth largest shareholder.

Hainan Airlines operates several self-owned airport lounges at its main hub and focus cities including Beijing (T1 HNA Exclusive Terminal), Haikou, Xi'an, Guangzhou and Urumqi.

In addition, the airline will soon open its exclusive international departure lounge at its main international hub Beijing International Airport Terminal 2. The airline also operates an exclusive Transit Lounge for transferring HNA Group passengers at Beijing Airport Non-restricted area.

Hainan Airlines's frequent-flyer program is called Fortune Wings Club. The airlines's subsidiaries Hong Kong Airlines, Lucky Air, Tianjin Airlines, Beijing Capital Airlines, Fuzhou Airlines and parent company Grand China Air are also parts of the program.

It is also possible for passengers to collect miles on Alaska Airlines, Etihad Airways and the airlines which have codeshares with Hainan Airlines.

Members can earn miles on flights as well as through consumption with Hainan Airlines's credit card. When enough miles are collected, members can be upgraded to Elite members which are divided into four tiers: Fortune Wings Platinum membership, Gold membership, Silver membership, and Flying Card membership. Elite membership get extra services.

Hainan Airlines is one of eleven airlines worldwide rated as five-star by Skytrax, along with All Nippon Airways, Asiana Airlines, Cathay Pacific, Etihad Airways, EVA Air, Garuda Indonesia, Japan Airlines, Lufthansa, Qatar Airways, and Singapore Airlines.

Hainan Airlines operates seven bases across China: Beijing–Capital, Guangzhou, Haikou, Hangzhou, Sanya, Shenzhen and Xi'an. It operates an extensive network across the People's Republic of China, connecting Asia, Europe, North America and Oceania.

It serves nearly 500 domestic and international routes and flies to more than 90 cities.

Hainan operates international regular flights and offers charter flights to 41 various destinations in 21 countries such as flights from Beijing to Almaty, Toronto, Berlin, Brussels, Seattle/Tacoma, St. Petersburg, Moscow, Tel Aviv, Chicago, Las Vegas, San Jose/Silicon Valley and Boston; Beijing, Xi'an, Dalian, Guangzhou, Haikou to Taipei; Beijing, Haikou, Nanning to Bangkok; Hefei via Haikou to Singapore and others.

Hainan also received official approval from the US DOT to begin nonstop flights between Beijing and Chicago. As of June 2014, Hainan began servicing Boston directly with a four-times-weekly 787 flight from Beijing Capital International Airport.

It was the first direct flight between Boston and China. The airline began service in the second quarter of 2013 with the Boeing 787 Dreamliner aircraft. It was the first Chinese carrier to offer flights between the two cities. Flights from Beijing-Capital to Chicago-O'Hare began on 3 September 2013.

On 23 October 2015, Hainan announced flights to Manchester, United Kingdom, starting in summer 2016. Hainan announced the launch of a direct route between Beijing and Calgary, Canada, as of 30 June 2016.

During the second half of 2017, Hainan Airlines began flights from Shanghai to Tel Aviv and restarted flights from Shanghai to Brussels. In late September 2017 Hainan Airlines commenced direct flights to and from Brisbane, Australia, several times per week, and also to Belgrade, Serbia, via Prague, every Monday and Friday.

On 8 March 2018, Hainan Airlines announced flights between Changsha and London Heathrow, commencing 23 March 2018 and on 15 March 2018, they announced round trip flights between Beijing–Capital, Dublin, and Edinburgh commencing 12 June 2018

Hainan Airlines codeshares with the following airlines:

- Aegean Airlines

- Aigle Azur

- Air Serbia

- Alitalia

- Alaska Airlines

- American Airlines

- Azul Brazilian Airlines

- Beijing Capital Airlines

- Brussels Airlines

- Czech Airlines

- Etihad Airways

- EVA Air

- Grand China Air

- GX Airlines

- Hong Kong Airlines

- Korean Air

- S7 Airlines

- Suparna Airlines

- Tianjin Airlines

- Uni Air

- WestJet

- Virgin Australia

Hainan Airlines fleet consists of the following aircraft:

- Airbus A330-200: 09 Aircrafts

- Airbus A330-300: 20 Aircrafts

- Airbus A350-900: 02 Aircrafts

- Boeing 737-700: 02 Aircrafts

- Boeing 737-800: 155 Aircrafts

- Boeing 737 MAX 8: 10 Aircrafts

- Boeing 787-8: 10 Aircrafts

- Boeing 787-9: 25 Aircrafts

- Total: 233: Aircrafts


Tourism Observer

CHINA: 20 Million Passengers Went Through Changsha Airport in 2016

Changsha Huanghua International Airport handled 21.3 million passengers in 2016 according to CAAC statistics. This was an increase of close to 14% on the previous year and left the airport ranked 13th in China.

This was one place higher than in 2015 when it was still ranked below Wuhan Airport which it has now overtaken. Analysis of OAG Schedule Analyser data indicates that international traffic at the airport was around 7% of the total in 2015, increasing to about 9% in 2016.

Since 2007 passenger demand at the airport has grown by an average of over 11% per annum. Last year’s growth of almost 14% was the airport’s fastest increase in traffic since 2010. The year-on-year increase in passenger numbers was almost 2.6 million, the most in the airport’s history.

The airport finished building a second runway in 2016, which is expected to become operational during 2017. There are also plans to build a third runway in the medium-term.

Last year saw the airport welcome a number of new high-profile international services with Hainan Airlines, with the carrier beginning direct flights to Melbourne and Sydney in Australia, as well as Los Angeles in California.

Hainan Airlines drives growth but China Southern Airlines still #1

China Southern Airlines is the busiest carrier at the airport, accounting for just under 22% of annual scheduled seat capacity. A total of 39 airlines served Changsha in 2016 with the top 15 accounting for 89% of the airport’s capacity.

While China Southern and China Eastern Airlines appear to have both reduced capacity marginally at the airport in 2016, other carriers grew their presence at the airport considerably.

Hainan Airlines has jumped from fourth place in 2015 to second place in 2016 thanks to a 46% increase in seat capacity at the airport. Beijing Capital Airlines, Shanghai Airlines and Tianjin Airlines all grew their capacity at the airport by more than 40% last year.

Beijing is #1 Changsha route; high-speed rail may impact some routes in 2017

The busiest route from Changsha is the 1,355-kilometre sector to Beijing. Capacity on the route is provided by Air China, China Southern Airlines, Hainan Airlines and Xiamen Airlines.

Between them these four carriers offer 116 weekly flights, equivalent to around 17 flights per day. The fastest-growing domestic route in 2016 was Tianjin, where capacity was up almost 40%.

At the end of last year the opening of a new high-speed rail link to Kunming reduced travel time from Changsha from 19 hours to just five. This may have an impact on air travel demand on the 1,099-kilometre route in 2017.

As a result Haikou may become the airport’s second busiest route in 2017.

Currently the airport offers non-stop service to 20 international destinations in 13 countries. The leading international country markets currently are Thailand, South Korea, Taiwan and Malaysia.

There are non-stop flights to Europe, with China Southern Airlines operating a three times weekly service to Frankfurt. North America is now also served directly since Hainan Airlines began twice-weekly flights to Los Angeles in January 2016.

On 21 January 2016 Hainan Airlines celebrated the launch of the first non-stop service between Changsha and an airport in North America. Los Angeles was the lucky destination with the Chinese carrier offering twice-weekly (Mondays and Thursdays) flights using its 787s.

CAMBODIA: China To Surpus Vietnam In Supplying Tourists To Cambodia

Cambodia Association of Travel Agents says China will soon overtake Vietnam as the main source of the country’s tourists.

But there are major concerns over capacity management and how the country’s tourist industry will cope with the shortage of Chinese speaking guides.

The association president, Chhay Sivlin, says that the strengthening of relations between Cambodia and China and the government’s strategy to promote more Chinese tourist arrivals, will accelerate tourist arrivals over the next two years.

A flood of cheap Chinese tours could swamp popular tourist destinations especially in Siem Reap, the main tourist destinations, famed for Angkor Wat a World Heritage site.

But the dominant thread in tourism announcements, made by the private sector and government, is the underlying pressure to reach numerical targets that could compromise the quality of the travel experience and the environment.

The preoccupation is with expansion and catching up with neighbors. The main drivers are airlines that serve the destination from China, many of them offering cheap charter flights that bring in low-revenue package tours.

“Ministry of Tourism still needs to increase direct flights in order to reach the country’s target of welcoming 7 million tourists by 2020, including 2 million Chinese visitors,” he said.

Meanwhile, China came in second with 830,003 visits increasing 19.5% from 694,712 visits, according to Ministry of Tourism’s Statistics and Tourist Information Department figure.

In 2016, 13 airlines launched direct flights from different destinations in the region to Cambodia. The majority of the airlines are from China followed by Japan and Thailand.

Chinese airlines increasing flights, last year, included Hainan Airlines, Lucky Air, Tianjin Airlines, Spring Airlines and Beijing Capital Airlines.

Many opportunities for Cambodian tourism companies, more and more Chinese spend their holiday in their country, and they are becoming more and more rich and like to spend their money.

In 2013, China has overtaken South Korea to become the 2nd largest tourist source to Cambodia, with 305 500 visitors, up 47%, up according to the data from the Cambodian Ministry of Tourism.

Vietnam remained topped the chart among the top ten tourist arrivals to Cambodia with 584,800 tourists during the January-August period this year, up 12 percent year-on- year.

It added that during the first 8months of 2013, Cambodia has received a total of 2.77 million foreign tourists, up 19 % every year.

The minister said the country has set a target to attract between 1.5 million and 2 million Chinese tourists by 2020.

Chinese are rich now, more and more Chinese have been visiting abroad every year.

Close ties between Cambodia and China is an essential base to attract more Chinese to Cambodia.

Excellent ties between the two countries and improving Cambodian tourism quality and services will encourage more Chinese to this Southeast Asia nation in coming years.

Cambodian Minister of Tourism Thong Khon attributed the rise of Chinese traveller to attractive sites such as the Angkor Wat temple, a World Heritage Site, the beautiful coastline, like one of the top most Beautiful Bays.

Cambodia’s Angkor Wat temples, one of the world heritage sites. This Buddhist temple complex in Cambodia and the largest religious monument in the world and attracted 1.57 million foreign travellers in the first nine of the year, +6% compared with the same period in a year earlier.

During the January-September period this year, the monument welcomed 201,000 Chinese, +60 %.

“China is leading the growth of tourists to the site this year thanks to Cambodia-China excellent ties, broader promotion of the Angkor to the world, and more direct flight connection between Cambodia and China,” Chhoeuy Chhorn, administration chief of the Siem Reap provincial tourism department said.

Last year, the temples attracted 2.06 million foreign visitors, up 28 percent year-on-year.

Shopping

Chinese tourists use to do a lot of Shopping and purchase gifts, and local products.

Entertainement

They also like entertainement and will eat local food, sing in KTV and go to bars. They enjoy massage, and local SPA beauty services.

Hotels
You still have a lot of travellers with low budget, but more and more rich Chinese Business men travel in Cambodia and like nice hotels.

Internet
80% of Chinese people will search information online before their travel , and 66% will use Internet to book flight, hotel and prepare their trip.

You will find a lot of usefull information on many websites about Cambodia, and users’ experiences.
Look this for example

About 830,000 Chinese tourists visited Cambodia in 2016, a 19.5-percent rise year-on-year, according to a Cambodian Tourism Ministry report on Thursday.

Chinese holidaymakers accounted for 16.6 percent of the 5 million international tourists traveling to the Southeast Asian country last year, the report said.

It added that China ranked the second largest source of tourists to Cambodia after Vietnam, whose 959,600 people visited the kingdom last year, down 2.8 percent year-on-year.

Cambodia targets 2 million Chinese tourists by 2020.

Last year, the country launched a white paper which listed steps to be taken by tourism authorities to facilitate visits by Chinese tourists, such as providing Chinese signage and documents for visa processing, encouraging local use of the Chinese yuan currency, encouraging the use of Chinese language, and ensuring that food and accommodation facilities are suited to Chinese tastes.

Cambodia is famous for the 12th century Angkor Archeological Park in northwestern Siem Reap province. Besides, it has a 450-km pristine coastline stretching across four provinces in the country's southwestern part.

Tourism Minister Thong Khon estimated last month that tourism industry earned gross revenue of more than 3 billion U.S. dollars in 2016, accounting for 13 percent of the country's Gross Domestic Product (GDP).

GHANA: Africa World Airlines

Africa World Airlines Limited is a Ghanaian airline company with its head office in Accra, Greater Accra, Ghana, and its main hub at Kotoka International Airport in Accra.

Africa World Airlines was incorporated in 2010. It is a joint venture between Hainan Airlines, China-Africa Development Fund, SSNIT and SAS Finance Group.

Africa World Airlines took delivery on 30 August 2012 of its first Embraer 145 aircraft that will be used to operate domestic routes.

A second aircraft was delivered on 8 September 2012. These aircraft were previously operated by Tianjin Airlines which is a sister company within the HNA Group.

Africa World Airlines has plans to increase its fleet size by adding Airbus 319 series of aircraft, as of yet the number of aircraft to be added is undefined.

Destinations
Africa World Airlines operates the following scheduled services.

Ghana
Accra - Kotoka International Airport
Kumasi - Kumasi Airport
Takoradi - Takoradi Airport
Tamale - Tamale Airport

Nigeria
Lagos- Murtala Muhammed International Airport
Africa World Airlines is planning to increase its destinations, first with the addition of flights along the west coast of Africa and then to other regions of Africa.

CHINA: Tianjin Airlines Applies For Long Flights From Chongqing To Vancouver

Tianjin Airlines
Type Scheduled Carrier
Base Tianjin
Aircraft 91
Destinations 101
Routes 257
Daily Flights 409

Tianjin Airlines (GS, Tianjin) has applied to the Civil Aviation Administration of China (CAAC) for permission to begin longhaul flights from Chongqing to Vancouver Int'l, Canada via Tianjin in June next year.

The carrier plans to operate the route 4x weekly using A330 plane. Should it secure the official greenlight, it would become the second Hainan Airlines (HU, Haikou) subsidiary to operate intercontinental services after Capital Airlines (China) (JD, Beijing Capital) which launched flights to Europe this past summer.

Tianjin Airlines currently operates a fleet of eighteen A320-200s, fifty EMB-190s, and twenty-two ERJ-145s on flights across China as well as to Japan, Thailand, South Korea, Russia, and Taiwan.

CHINA: Government To Merge Sectors Of 3 Largest Carriers

China Southern Airlines
Type Scheduled Carrier
Base Guangzhou
Aircraft 516
Destinations 208
Routes 867
Daily Flights 1732

The Chinese government is considering merging certain sectors of the country's three largest carriers - Air China (CA, Beijing Capital), China Southern Airlines (CZ, Guangzhou), and China Eastern Airlines (MU, Shanghai Hongqiao) - into one, informed sources have revealed.

As part of the country's 13th Five-Year Plan covering 2016 to 2020, China's Supervision and Administration Commission (SASAC) last month unveiled far-reaching reforms which aim, through the consolidation of state-owned companies, to create globally-competitive multinational corporations capable of turning a profit by 2020.

As such, the merger of the three airlines' passenger operations is only one aspect of consolidation under review with others said to include combining only two of three's passenger operations. In June, the deputy director of the Civil Aviation Administration of China (CAAC) Zhou Laizhen alluded to the creation of Asia's largest air-freight transport company through the proposed merger of China Eastern's China Cargo Airlines (CK, Shanghai Hongqiao), Air China Cargo (CAO, Beijing Capital), and the cargo division of China Southern Airlines.

Historically, all three carriers stemmed from China's previous, de-facto state enterprise - CAAC (Beijing Capital) - which Beijing unbundled into six trunk operators - Air China, China Eastern, China Southern, China Northern Airlines (CJ, Shenyang), China Southwest Airlines (SZ, Chengdu), and China Northwest Airlines (WH, Xi'an Xiguan) - in 1987 as part of Deng Xiaoping's market reforms. However, to better streamline operational efficiencies, China Southwest was eventually merged into Air China in 2002, China Northwest into China Eastern also in 2002, while China Northern was absorbed by China Southern in 2004.

The privately-owned HNA Group has unveiled a similar policy with plans to transfer control of four carriers - Tianjin Airlines (GS, Tianjin), West Air (China) (PN, Chongqing), Capital Airlines (China) (JD, Beijing Capital), and Hong Kong Airlines (HX, Hong Kong Chek Lap Kok) - to Hainan Airlines (HU, Haikou) in a bid to improve profitability, boardroom excellence, and avoid horizontal competition among its subsidiaries.

CHINA: China's HNA Group Acquires 23.7% Stake In Brazil's Azul

Hainan Airlines
Type: Scheduled Carrier
Base: Haikou
Aircraft: 162
Destinations: 85
Routes: 299
Daily Flights: 605

Azul Linhas Aéreas Brasileiras (AD, Campinas Viracopos) and HNA Group have announced a strategic partnership wherein the Chinese conglomerate will acquire a 23.7% stake in the Brazilian carrier for USD450 million. As Azul's single largest shareholder, HNA will be able to appoint new members to the board of directors.

“HNA Group sees in Azul a solid investment with high growth potential. The USD450 million investment, considering Brazil’s current macroeconomic situation, demonstrates that we have a winning business model and that the HNA Group, as a large investor, has absolute confidence in Azul’s team," David Neeleman, CEO of Azul, said. "Moreover, this investment makes Azul the airline with the highest valuation in the Brazilian market, at more than BRL7.0 billion (USD1.87 billion).”

As part of the deal, the two firms will cooperate in the development of code sharing and new routes while expanding cooperation across their respective loyalty programs.

The partnership brings together two of the largest players in two of the fastest-growing aviation markets in the world - China and Brazil. With a fleet of 145 aircraft, Azul is the largest airline in Brazil by network-size, offering more than 900 daily flights to more than 100 destinations. For its part, HNA Group owns China's fourth largest airline group in terms of fleet size with a total of 561 aircraft on the books of Hainan Airlines, Grand China Air, Tianjin Airlines, Lucky Air (China), West Air (China), and Yangtze River Express. It operates scheduled domestic and international service on more than 630 routes from locations throughout China as well as internationally. HNA Group's international portfolio includes stakes in myCargo Airlines (Turkey), Africa World Airlines (Ghana), Aigle Azur (France), and Comair (South Africa).

Bravia Capital and UBS Investment Bank served as financial advisor to HNA Group while Seabury Securities LLC, Seabury Group's investment banking unit, served as financial advisor to Azul.

Earlier this year, United Airlines (UA, Chicago O'Hare) acquired a 5% shareholding in Azul for USD100 million in a deal that also gave United Continental Holdings Inc a representative on Azul's board.

CHINA: Hainan Airlines Parent To Buy Swissport

Hainan Airlines 5-Star cabin staff

HNA Group, owner of the Chinese 5-Star Airline, Hainan Airlines, has agreed to buy airport luggage handler Swissport International Ltd from PAI Partners SAS for USD $2.81 billion.

HNA will operate Swissport as a stand-alone business within the group. Swissport has approximately 60,000 employees, operating in 48 countries, and is the world´s largest ground and cargo handling company, providing service for about 224 million passengers and handles more than 4.1 million tonnes of cargo a year.

Under HNA ownership, Swissport will continue to expand its global footprint and continue to deliver the highest quality and value added services to existing and future customers. On announcement of the sale, Swissport Chairman Dr Thomas Staehelin commented: “We are pleased to become part of HNA Group and to continue to further strengthening our service offering and global network.”

Adam Tan, President of HNA Group, said: “HNA is excited to support Swissport’s world class management team as they continue to provide the highest quality service to the airline industry and their passengers. HNA is committed to Swissport’s future success in the global aviation market”.
About the HNA Group

HNA Group was founded in 1993, and is a Chinese conglomerate encompassing core divisions of aviation, holdings, capital, tourism and logistics, and has 11 listed companies.

In 2014, HNA Group had more than 110,000 employees worldwide, it is one of the Top 4 in China’s aviation industry, ranking the 120th in China Top 500 Enterprises, and HNA Group entered Fortune Global 500 in 2015 for the first Time, ranking No. 464 with annual revenue of approximately US $25.6 billion.

As at December 2014, HNA Aviation has a fleet of 528 aircraft, serving over 640 Chinese domestic and international routes, flying to over 250 cities, and carrying 72 million passengers annually.

It operates and manages Hainan Airlines, Tianjin Airlines, Deer Jet, Lucky Air, Capital Airlines, West Air, Fuzhou Airlines, Urumqi Air, Yangtze River Express, My CARGO, Africa World Airlines, and Aigle Azur. The aviation division has been maintaining a high level of operation standard and quality. The flagship airline, Hainan Airlines, is a SKYTRAX 5-Star Airline.