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China Eastern forms new Hainan carrier
Source:China Daily | Editor : Mo Hong'e | 2020-06-15 09:52:59
An international airline company to be created in Hainan province by China Eastern Airlines and its partners will tap into the aviation boom driven by the construction of the island's free trade port, analysts said.
The joint venture, Sanya International Airlines, was launched under a cooperation framework agreement reached on Saturday between China Eastern and its partners.
According to the deal, the company will be controlled by China Eastern, while Hainan Province Transport Investment Holding, Sanya Development Holdings, Juneyao Airlines and Trip.com Group will have stakes in it.
China Eastern operated 312 flights to and from airports in Hainan between June 1 and June 13, according to AirSavvi, a Chinese aviation data and solutions service provider. Hainan Airlines operated 1,592 flights during the same period, while China Southern Airlines had 1,582 flights.
China Eastern was one of the first carriers to operate flights to and from Hainan, doing so in 1998. It now operates flights at three airports in the province, with 3 million passenger trips a year.
The agreement on building an international aviation firm is among a slew of key deals reached on Saturday to accelerate the development of the southern island province into an international trade hub and a free trade port.
The strategic agreement will enable China Eastern to promote various businesses related to aviation, including passenger transport, logistics, food, finance, industrial investment, innovation and technologies, together with the provincial government.
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