Hainan Airlines Takes Controlling Stake in Tianjin Airlines
HNA Group subsidiary Hainan Airlines has completed the acquisition of a 48.2% stake in Tianjin Airlines, also an HNA subsidiary, making the Haikou-headquartered carrier the controlling stakeholder in the Tianjin-based airline with an 87.3% stake.
Tianjin Airlines has two other shareholders: Tianjin Chuangxin Investment Partner Co., which has an 8.5% stake, and Tianjin Bonded Area Investment Co., which holds a 4.2% stake.
Launched in June 2009, Tianjin Airlines is a joint venture of the HNA Group and the Tianjin municipal government. The carrier operates more than 90 aircraft on more than 200 domestic and 30 international routes to over 100 destinations.
Last year, Tianjin Airlines expanded its long-haul fleet with the Airbus A330-200, which enabled the carrier to open three intercontinental routes, including Tianjin-Chongqing-London, Tianjin-Moscow and Tianjin-Chongqing-Auckland. This year, the carrier will start Xi’an-London services in May and Tianjin-Paris services by the end of the year.
Nol van Fenema