Air China to launch carrier in Inner Mongolia
Published: August 1, 2012
The Civil Aviation Administration of China (CAAC) has approved Air China’s application to set up a subsidiary carrier based in Inner Mongolia.
The carrier, a joint venture between Air China and Inner Mongolia State Assets Operation, will be based at Hohhot Baita International Airport.
Air China will pump in yuan (CNY) 800 million ($ 125 million) into the firm, taking an 80% stake, while the latter will invest CNY200 million and hold the remaining 20% stake.
The carrier, licensed to offer both domestic and cargo services, will operate a fleet of Boeing 737-300s or 737-700s, says CAAC.
Air China will also provide key personnel to launch operations.