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Xinjiang authorities okay HNA Group's bid to start Urumqi Airlines
HNA Group, the parent company of Hainan Airlines has recently won approval from Xinjiang Regional Administration of Civil Aviation to co-establish Urumqi Airlines Co Ltd with Urumqi City Construction Investment Co Ltd, reports Xinhua.
Registered capital of the air company totalled CNY3 billion (US$492 million), in which Hainan Airlines will contribute CNY2.1 billion in cash, accounting for 70 per cent of the total. Urumqi City Construction Investment Company will provide CNY0.9 billion, 30 per cent of the total.
Urumqi Airlines will take Urumqi Diwobao International Airport as its base airport, operating domestic air passenger and cargo transport business and air transport business to HK, Macao, Taiwan and abroad which originally departed from Urumqi.
Registered capital of the air company totalled CNY3 billion (US$492 million), in which Hainan Airlines will contribute CNY2.1 billion in cash, accounting for 70 per cent of the total. Urumqi City Construction Investment Company will provide CNY0.9 billion, 30 per cent of the total.
Urumqi Airlines will take Urumqi Diwobao International Airport as its base airport, operating domestic air passenger and cargo transport business and air transport business to HK, Macao, Taiwan and abroad which originally departed from Urumqi.
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