According to a report on ch-aviation, Chinese conglomerate HNA Group will gradually shift ownership of four of its airline subsidiaries to Hainan Airlines, which is also a subsidiary.
As a first step in a plan to improve profitability and decrease internal competition among its airlines, HNA will transfer managerial control of Hong Kong Airlines, Tianjin Airlines, West Air and Capital Airlines to Hainan Airlines. In addition to its thirteen A320 and twelve A330 passenger aircraft, Hong Kong Airlines also operates five A330-200Fs. It also has six 777Fs on order, through Hong Kong International Aviation.
In the second step, which will come at a later, unspecified date, HNA will transfer its ownership stakes in the four carriers to Hainan Airlines. HNA owns about 25 percent of Hong Kong Airlines’ parent; 48 percent of Tianjin Airlines; 60 percent of West Air; and just over 50 percent of Capital Airlines.
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