Beijing Capital Airlines Co. Ltd. Incorporated

May 03, 2010, 10:57 ET from HNA Group

BEIJING, May 3 /PRNewswire-Asia/ -- On May 2, the founding ceremony of Beijing Capital Airlines Co. Ltd. (Capital Airlines) was held in the Imperial Ancestral Temple in Beijing. As a local airline of Beijing, Capital Airlines has injected new vigor into the city's drive toward building itself into an "international city" and spreading Chinese culture. Ding Xiangyang, Vice-mayor of Beijing, Chen Xibing, Chief Pilot of Civil Aviation Administration of China (CAAC), Chen Feng, Board Chairman of HNA Group, Wang Jian, Vice Chairman & CEO of HNA Group, Duan Qiang, Chairman of the Beijing Tourism Group (BTG) and Liu Yi, Vice Chairman & President of BTG attended the ceremony with more than 400 guests and reporters from over 80 press organizations from China and overseas.

(Photo: )

Liu Jiaxu, Board member of HNA Group and Yang Hua, Vice President of BTG signed a joint contract on increasing investment to set up Capital Airlines. Liu Xuesong, Director of CAAC North China Regional Administration, granted an operating certificate to Hu Mingbo, Vice President of HNA Tourism Group and head of the preparation panel of Capital Airlines.

HNA Group and BTG increased their investment into Deer Air Co. Ltd., a subsidiary of HNA Group, and changed the company's name to Beijing Capital Airlines Co. Ltd. Of the new company's registered capital of RMB1.5 billion, HNA Group accounts for 70% while BTG accounts for 30%. The new company will continue to use Deer Air's code, JD, and its business scope ranges from international and domestic business tourism charter flights, business jet rental, and medical rescue flights to aircraft hosting. As of now, Capital Airlines has 25 Airbus planes and uses several cities as operation bases, including Beijing, Guangzhou, Xi'an and Sanya. Equipped with more than 120 air routes and 24 various luxurious business jets, it boasts the largest business jet fleet in the Asia and Pacific region, and accounts for more than 90% of China's business jet charter market. The company's aircraft can arrive in more than 420 airports in more than 100 countries. In the future five years, the fleet of Capital Airlines is expected to grow to more than 200 aircraft, plan featured route networks and fleet composition, and offer tailored services on demand for clients.

As a local airline of Beijing, Capital Airlines commits to improving the urban functions and promoting the cultural exchanges between China and the world. Serving as a window, bridge and ambassador, Capital Airlines will co- build Beijing into a "world city" together with all stakeholders.

"Capital Airlines won't be successfully incorporated without the painstaking efforts of leaders such as Liu Qi, Secretary of Beijing Municipal Committee of the CPC," Liu Jiaxu, Board Director of HNA Group pinpointed at the news conference. Thanks to the care and direction of Liu Qi and under the support of leaders at different levels of Beijing Committee of CPC and Beijing Municipal Government, Capital Airlines will undoubtedly make greater contributions to the economic and cultural development of Beijing.

As an integrated operator of modern service, HNA Group focuses on air travel, modern logistics, modern financial service, covering aviation, logistics, tourism, finance, commerce, airport management, real estate, green food, etc. In terms of aviation industry, HNA Group now has over 240 planes, some 500 flight routes, accessible to more than 90 domestic and international cities, thus transporting nearly 30 million passengers annually.