Grand China Air
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Location of Grand China Air main hub (Beijing Capital International Airport)
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Hainan Airlines to raise USD3.bn to fund fleet expansion, acquire Tianjin Airlines controlling stake
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Hainan Airlines has named a new executive team and Chairman ahead of a highly anticipated listing of HNA Group's aviation arm, Grand China Air. The reshuffle comes as Hainan Airlines reveals plans to invest CNY1.08 billion (USD169 million) to acquire a 32.41% stake in China Xinhua Airlines from Grand China, according to reports in the local media.
China’s second-tier carriers are hard at work at present, rapidly expanding their domestic and (in some cases) international route networks. However, the vast majority of these airlines are now doing so under the control of the "Big Three" carriers and/or HNA Group, as consolidation accelerates in China. As such, China’s airline evolution is at a very interesting stage. Where previously the major airlines: 1) established considerable branch carrier networks to serve diverse geographic areas in China; and 2) eliminated brands of the acquired airlines, they now appear to be looking more strategically at segmenting the market, retaining the second-tier carrier brands, particularly those focused on tourism/leisure markets.