Hainan Airlines is planning to set up a passenger airline in the south-west Chinese province of Yunnan. The fast-growing airline group told the Shanghai stock exchange that the new carrier is to be called Shilin Airlines, set up in partnership with Hainan group unit Shanxi Airlines and a local tourism company.
Shanxi Airlines will own 51%, Hainan Airlines will have a direct 48.9% stake and Yunnan Shilin Tourism Aviation will have 0.1%.
Few details are being revealed, but Hainan does say the new airline will be capitalised at 770 million yuan ($93 million). The official China Daily newspaper says Hainan Airlines and Shanxi Airlines will together provide three Dornier 328Jets, one Boeing 737 and one Bombardier Dash 8.
Source: Flight International
