Friday, 8 June 2018

Big plans for Hainan

The fourth biggest airline in China, Hainan Airlines has revealed some pretty big expansion plans today. The airline says it will acquire aviation assets valued at 10.48 billion yuan ($1.64 billion) in five companies in order to boost its route network and competitive edge.

The carrier will issue shares to a maximum of 10 investors to raise around 7 billion yuan which it will then use to buy more aircraft and six other projects including pilot training and engine maintenance.

Not only does the airliner want to expand its network, it also wants to develop further in the aviation world through acquisitions. “With the acquisitions, the airline will be able to expand the routes, strengthen development in aviation maintenance, flight training and other services,” the airline said in a statement on the Shanghai stock exchange.