Hainan Airlines parent HNA Group launched its Grand Xinhua Express Airlines Friday in Tianjin just southeast of Beijing, from where it initially will operate five 32-seat regional jets. HNA holds 81% of the new carrier with an investment of CNY81 million ($10.5 million), while Hainan Airlines invested CNY19 million for the remaining stake. GXE is aiming to be China's top regional airline in both passenger and cargo traffic. GXE Chairman and President Yu Wenyong cited "market potential" as ...

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