Jiaxin Investment Management cuts its stake in Hainan Airlines for the second time

Hainan Airlines announced its fourth largest shareholder, Hainan Jiaxin Investment Management Co, reduced its stake in the carrier by 2.25% to 1.61%, selling up to 80 million shares for CNY5.63 per share on 10-Jul-2009. Jiaxin, which is owned by employees of HNA Group, the parent of Hainan Airlines, currently holds approximately 57 million negotiable shares in Hainan Airlines. [1449 words]

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This report contains the following subheadings:

• Continues to add capacity to stimulate demand
• New Shenzhen venture
• Also branching out to Taiwan
• Sale and leaseback
• Grand China Express no more, now Tianjin Airlines
• Expands Hangzhou and Xi’an capacity
• Hong Kong Airlines cuts losses through capacity reductions as Hong Kong Express Airways continues to grow
• Hong Kong Airlines proposes pay reduction for pilots
• Selects OnAir for inflight service

This report contains the following charts and tables:

• Hainan Airlines domestic route network: Jul-2009
• Hainan Airlines current fleet: Jul-2009
• China-Taipei capacity breakdown by carrier (seats per week as % of total)
• Hong Kong Airlines and Hong Kong Express combined route network: Jul-2009