Hainan Airlines of HNA Group looks to take on Australian sky

Updated: 2010-07-26
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Hainan Airlines, the leading business enterprise in the air transportation
 division of the HNA Group, is currently looking to fly into Australia.


The HNA Group, one of the largest Chinese diversified business groups with over 160 billion RMB (A$ 23.6 billion) in turnover is looking to deploy up to US$ 200 million in capital to expand its presence in the Australian market. The HNA Group has businesses that cover Air Transportation, Airport Management, Hotel, Logistics, Real Estate, Retail, Tourism and Financial Services.

Hainan Airlines Co., Ltd. ("Hainan Airlines") is the leading business enterprise in the air transportation division of the HNA Group and the airline is currently looking at opportunities to fly into Australia from Beijing and Shanghai to major metro cities in Australia.

The HNA Group has also recently put in a joint bid for one of the largest seaports in Australia and are actively looking at future investment opportunities in key sectors such as hospitality, tourism, transportation, travel, aviation and logistics.

The entire board of the HNA Group (including 318 delegates from key business divisions) is visiting Sydney in late July to assess investment opportunities and meet key Australian industry representatives. During their visit, the HNA Board will be meeting with senior ministers in the New South Wales and Federal government.

HNA Group is a major shareholder in Hong Kong Aviation Company (HKAC), a leading investor in the global aviation sector. Early this year, HKAC acquired Australian based Allco’s Aviation Business and Assets worth nearly $ 3.2 billion. HKAC also recently concluded a leasing deal to finance 10 aircrafts to India based IndiGo Airlines worth US$ 200 million. HKAC currently leases and manages 68 aircraft for leading airlines including Qantas, Virgin Blue, British Airways and Emirates.

Speaking on the visit, Mr. Adam Tan, Executive Director, HNA Group and Chairman, Hong Kong Aviation Company, said: "The HNA Group's board visit to Australia showcases our commitment to invest in Australia and continue to expand our presence in this market. We have a long-term view to deploy significant capital in the Asia Pacific region and Australia is at the core of our international expansion strategy."

Speaking on HKAC's growth plans, Mr. Mathis Shinnick, CEO, Hong Kong Aviation Capital said "Our goal is to double our aviation portfolio over the next year and we will be actively looking at portfolio acquisitions as part of our growth strategy. We have a strong team with significant aircraft management expertise and robust financial capability through our partnerships with leading banks in China and across the globe."

 
 
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