16.06.2020 – 18:01 UTC
China Eastern Airlines (MU, Shanghai Hongqiao) has partnered privately-owned Juneyao Air (HO, Shanghai Hongqiao) in the establishment of Sanya International Airlines, a new carrier which will use Sanya Phoenix International Airport and the upcoming Sanya Hongtangwan International Airport as bases.
“In order to seize the opportunity of the establishment of a pilot free trade zone and a free trade port with Chinese characteristics and the construction of an international tourism consumption hub in Hainan, and to give full play to the unique advantages of air transportation, China Eastern […] intends to jointly establish ‘Sanya International Airlines Co., Ltd.’,” the statement said.
According to a stock exchange filing, the start-up is a joint venture between China Eastern (51%), the Hainan Communications Investment Holdings Co. (10%), the Sanya Development Holdings Co. (10%), Juneyao Air (15%), and Ctrip Travel Network Technology (14%). However, Juneyao Air will be entitled to exercise more than 10% of all voting shares during a general meeting and is therefore deemed to be a substantial shareholder….
26.05.2020 – 11:45 UTC
As tensions continue to escalate between the United States and China, the US Department of Transportation (DOT) has accused the Chinese government of barring US airlines from