New Chinese airline enters the market
05 / 01 / 2012
DALIAN Airlines, a joint venture between Air China and Dalian Baoshui Zhengtong (DBZ), commenced operations on 31 December.
Dalian will send passengers and cargo to Shenzhen (China) and later to routes including Japan and South Korea.
Dalian Airlines is jointly owned by Air China, investing RMB 800 million (US$126.9 million) in cash to hold an 80 per cent stake in the new company, with DBZ investing RMB 200 million ($31.7 million) for the remaining 20 per cent.
The airline almost became a subsidiary of Hainan Airlines but a disagreement with the government scuppered plans, opening the door for Air China.
On 5 July 2011 CAAC, China’s civil aviation regulator, granted Air China and DBZ permission to establish the airline. This follows an agreement reached between Air China and the Dalian government in 2010.