New business airline
By Winny Wang |
March 5, 2011, Saturday
|
Print Edition
Print Edition
AIR China will inaugurate a business jet joint venture with the Beijing city government in April or May to tap the country's booming high-end travel market.
Air China will hold an 80 percent stake in the 1 billion yuan (US$152 million) Beijing Airlines and the local government will take the balance, said Kong Dong, chairman of Beijing-based Air China, the country's biggest international carrier.
The new airline will serve high-end clients such as political officials, business leaders and entertainment personalities in the first stage.
Air China already set up a business jet company in 2003 to deal in aircraft management, aircraft charter and ground handling services. Air China Business Jet at present manages seven aircraft, including two G450 jets, one A318 Elite and a Falcon 7X, and it is expected to introduce five more planes this year.
Beijing Airlines will help enhance Air China's presence in the emerging high-end market but it will face tough competition from the HNA Group, which formed Capital Airlines last year with the Beijing Tourism Group. Capital Airlines manages 24 business jets, grabbing more than 90 percent of China's business jet market.
Air China will hold an 80 percent stake in the 1 billion yuan (US$152 million) Beijing Airlines and the local government will take the balance, said Kong Dong, chairman of Beijing-based Air China, the country's biggest international carrier.
The new airline will serve high-end clients such as political officials, business leaders and entertainment personalities in the first stage.
Air China already set up a business jet company in 2003 to deal in aircraft management, aircraft charter and ground handling services. Air China Business Jet at present manages seven aircraft, including two G450 jets, one A318 Elite and a Falcon 7X, and it is expected to introduce five more planes this year.
Beijing Airlines will help enhance Air China's presence in the emerging high-end market but it will face tough competition from the HNA Group, which formed Capital Airlines last year with the Beijing Tourism Group. Capital Airlines manages 24 business jets, grabbing more than 90 percent of China's business jet market.
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