Type state-owned enterprise | Founded 2002 | |
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Headquarters Air China Plaza, Beijing, China Revenue CN¥111.120 billion (2015) Operating income Profit CN¥3.826 billion (2015) Total assets CN¥225.433 billion (2015) Parent organization State-owned Assets Supervision and Administration Commission of the State Council Subsidiaries Air China, Hong Kong Air Cargo Terminals Limited | ||
China National Aviation Holding Company also known as Air China Group is a Chinese state-owned enterprise which is the parent company of Air China and Air Macau. The company was formed on 11 October 2002 by the merger of Air China, China Southwest Airlines and China National Aviation Corporation (Group) Limited.
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Origins of China National Aviation Holding
The major carrier of China could be traced back to China National Aviation Corporation which was nationalized in 1949. In 1988 Air China (Chinese: 中国国际航空公司; literally: "China International Airline Company") and other airlines were formed by the separation of commercial activity and regulating body of the government.
The once defunct company China National Aviation Corporation (Chinese: 中國航空股份有限公司), was also re-registered in Hong Kong on 31 August 1984 as a foreign company. The company was re-registered in China in May 1991, which Civil Aviation Administration of China owned 79% stake, Air China, China Eastern Airlines and China Southern Airlines owned 7% each.
On 11 October 2002, the new China National Aviation Corporation merged with Air China and China Southwest Airlines, forming China National Aviation Holding Company (Chinese: 中国航空集团公司) under the Law on Industrial Enterprises Owned by the Whole People.
After the merger, China National Aviation Corporation's subsidiaries in Hong Kong still using the name "China National Aviation Corporation (Hong Kong) and "China National Aviation Corporation (Group)."
China National Aviation Corporation
China National Aviation Corporation was acted as a "window company" in the British Colony since 1984, even after the hangover of Hong Kong back to China, and ceased to do business in Hong Kong 10 year later (on 10 August 2007). Several subsidiaries were also incorporated in Hong Kong, such as China National Aviation Corporation (Hong Kong) Limited on 4 August 1992 and then China National Aviation Corporation (Group) Limited on 13 June 1995 (CNAC (HK) became its subsidiary) and the subsidiary even used a logo similar to China National Aviation Corporation.
CNAC once owned a significant stake in Dragonair and LSG Lufthansa Service Hong Kong. The stakes, along with 50% stake of Jardine Airport Services (JASL) was transferred to a listed subsidiary China National Aviation Company Limited (former code SEHK: 01110, incorporated on 3 February 1997). In turn China National Aviation Company Limited was 69% owned by Air China Limited (acquired from CNAC(G)). The stake in Dragonair (43.29%) was acquired by Cathay Pacific in 2006, and China National Aviation Company Limited was also privatized in 2007 by Air China Limited. On 10 June 2008, the 50% stake in JASL was sold back from Air China to CNAC(G).
Dragonair, as at 2016, was a wholly owned subsidiary of Cathay Pacific, which Air China, now a subsidiary of China National Aviation Holding, had a cross ownership between the two listed companies.
CNAC also purchased a building on 10 Queen's Road Central, Central, Hong Kong Island in 1992, known as CNAC Group Building. it was once owned by the listed company China National Aviation Company Limited but sold back to CNAC(G) in 2002. It was sold in 2008 to Shanghai Commercial Bank for HK$1.388 billion. It was demolished to make way for the headquarters of Shanghai Commercial Bank.
Subsidiaries
China National Aviation Holding is the majority owner of several airlines and subsidiaries, including:
Airline share ownership and subsidiaries:
Other operations:
Fleet
As of April 2013, the Air China and subsidiaries fleet consists of the following aircraft.