Hong Kong Airlines, a subsidiary of Hainan Airlines Group (HNA Group), plans to raise about five billion yuan from an initial public offering (IPO) on the Hong Kong Stock Exchange by the end of 2011, reports 163.com, citing Yang Jianhong, President of Hong Kong Airlines.
Yang said that Hong Kong Airlines ordered 50 aircraft in 2006, of which at least 18 will be delivered by 2012. The company’s fleet may exceed 100 in five to 10 years.
In addition, Hong Kong Airlines recruited 700 staff in 2010. The company plans to invest between 700 million and 800 million yuan to establish its headquarters and training center in Hong Kong.
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