Free Essay On Hainan Airlines
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The Hainan airline under the Airlines Company Hainan Limited (HNA) has its headquarters located in Haikou, China. The airline is not only the largest airline company that is privately owned but also among the top four largest airline in fleet size accommodation in China. Besides the airline offering chartered services to its customers, it also provides timely international and domestic services on over five hundred routes from Hainan as well as nine spots on the interior. Haikou Meilan International Airport is the main base while Beijing Capital International Airport hosts the hub. Skytrax has rated the airline a five star among eight of the airlines which include, Cathay Pacific, Asiana Airlines, Garuda Indonesia, All Nippon Airways, Malaysia Airlines, Qatar Airways, and Singapore Airlines.
In October 1989, Hainan Airline Company was founded as the Hainan Province Airlines and located in Hainan, the zone experiencing the fastest economy growth. Later, the company was rebranded to Hainan Airlines where in January 1993; it became the first air-transport company to have joint stock ever in the history of China. It is in 1995 that operations of an executive jet where the Bombardier Learjet were incorporated into the airline. The purchase of 25 percent shares of Haikou Meilan International Airport (Hainan Airlines, 2015).
The parent company of the Hainan Airlines is the Hainan Airlines Group, HNA Group, which was established in 2000.The Hainan Airlines Group also controlled Shanxi Airlines, Chang'an Airlines, and China Xinhua Airlines. Chang’an by 2003 had been overtaken by Hainan, which is the central airline, as the fourth-ranked airline in country. On 30th November 2007 through the initiative of the Hainan, an airline which is the HNA group widest operation entity, the Grand China Airline Holding Company was formed (Reuters, 2015. The aim of the new holding was to merge the operations of the Hainan Airlines with the other subsidiary aviation of the HNA group. A joint holding of the new company consisted the Hainan Province Government accounting for (48.6 percent), the HNA (32.8 percent) and George Soros taking up (18.6 percent) (Hainan Airlines, 2015).This led to the establishment of the Grand China Air, which was a new airline. The near future plan is for the HNA four airlines transferring into the Grand China Air. Plans by the HNA are for establishing the cargo division meant to handle freighter aircraft operations and make investments in the ACT Airlines Cargo for the Turkish carrier (Hainan Airlines, 2015). The HNA group holds a newly founded subsidiary which is the Fuzhou Airlines.
It’s on last year, October 30 that the first the first pioneer flight was launched. However, 60% of the shares in the Fuzhou Airlines are owned by the HNA Group. The Hainan Airline Group in the past has ordered a variety of airplanes which include; On 29 September 2005, 42 Boeing 787-8s with 10 of them expected to join the Hainan Airlines Fleet.10 Boeing 737-800s were ordered for the Hainan Airlines in January 2006.15 Boeing 737-800s were ordered by the Hainan in September 2006.The first Airbus A330-200 for Hainan Airlines was received on 14 November 2007. 13 Airbus A320-200 aircraft were ordered in June 2007.50 Embraer 190s, and 50 Embraer were ordered in the late 2007 at an estimated price of $2.7 billion USD. Deliveries of E-190 began in December 2007 (Hainan Airlines, 2015). Reduction of the ERJ-145 order was brought by the financial crisis across and the massive losses incurred by the larger capacity aircrafts.
Hainan Airlines. (2015). Company History and Profile. Retrieved from https://www.hainanairlines.com/HUPortal/dyn/portal/DisplayPage?COUNTRY_SITE=CN&SITE=CBHZCBHZ&LANGUAGE=GB&PAGE=CHAP
Reuters. (2015, March 26). Hainan Airlines to buy 30 Boeing 787-9 jets, worth $7.7 billion by list price|. Retrieved from http://www.reuters.com/article/2015/03/26/us-boeing-hainan-airline-idUSKBN0ML2MM20150326
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