HNA Group's Grand China Air, designed to be the country's fourth-largest commercial carrier, is scheduled to be launched on Nov. 29 in Haikou, capital of Hainan Province, according to HNA Chairman Chen Feng. Hainan Development Holding Co. holds 40.65% of GCA with an investment of CNY1.5 billion while HNA's Hainan Airlines invested CNY900 million in a 24.08% stake. Other investors include Starstep, Yangtze River Investment, Pan American Aviation Holdings, Qiye Industrial Investment, Union ...
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