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Airlines

Name: AIR CHANG AN AIRLINES
7JetSet7 Code: CGN
Status: Operational
Region: CHINA
City: XIAN
Country: CHINA
Employees 1000
Web: changan-air.com.
Email: xp_du@hnair.com
Telephone: +86 2986539567
Fax: +86 2986539567
Sita:
Background
(definitions)

Click below for data links:
CGN-2005-01-737-705
CGN-2005-02-737-8FH WINGLETS
CGN-2005-09-A319-115
CGN-2005-12-PLAN
CGN-VISIT CHINA WALL

Formed in 1992 and started operations in 1993. Formerly Dapeng Airlines and Air Chang'an Airlines. Scheduled & charter, domestic & regional, passenger & cargo, jet airplane services.

Address:
Operating Base
Xianyang International Airport
712035 Xi'an (Shaanxi), China

China (People's Republic of China) was established in 1949, it covers an area of 9,560,980 sq km, its population is 1,265 million, its capital city is Beijing, and its official language is Chinese.

November 2004: Chang An Airlines (CGN) is a subsidiary of Hainan Aviation Holding Group (HNA).

737-705 (29091, B-5091), Babcock (BBB) leased.

December 2004: 737-705 (29092, B-5092), (BBB) leased.

February 2005: 737-8FH (B-5115), Hainan (HNA) wet-leased, delivery.

September 2005: Hainan Airlines (HNA) took its 1st 2 (CFM56)-powered A319-115's (2557, B-6210; 2561, B-6211). The airplanes are configured for 134 passengers in single-class layout. They will be operated by Chang'an Airlines (CGN), a local branch of Hainan (HNA) in Xi'an on domestic trunk routes and some high altitude routes like Tibet, Huanglong, and Gongga.

Global financier George Soros agrees to invest +$25 Million more in Hainan Airlines (HNA), doubling his investment (he had made a $25 Million investment in (HNA) in 1995 to buy 14.8% of (HNA). The funds will go to Grand China Air, a carrier (HNA) is putting together by merging 3 smaller rivals. (HNA), China's 4th-largest carrier, will merge with 3 smaller airlines ( Xinhua (XIH), Chang 'An (CGN) and Shan Xi (CHG)) to form Grand China Air. An (HNA) spokesperson said that USA financier George Soros agreed over the weekend to invest $25 million for approximately 4% of the new carrier. (HNA) is trying to raise $1.06 billion to buy airplanes and add routes ahead of the 2008 Summer Olympics and the 2010 Shanghai World Expo.

December 2005: A319-115 (2611, B-6215), delivery.

February 2006: Chinese domestic airlines flew a record 138 million passengers in 2005, a rise of +15% over 2004 and double the number of 2000. The figure is expected to double again in the next 5 years, according to Gao Geng, the Vice Minister of the General Administration of Civil Aviation in China. Cargo and airmail throughput rose +14% to 3.04 million tons in 2005 and also is expected to double in the next 5 years. However, profit margins will remain tight within the sector. He noted revenues in the sector had grown to CNY170 billion/$21.09 billion at the end of 2005, but profits in the past 5 years had amounted to only CNY10 billion.

April 2007: "Grand China Air (CGA)," the company established in 2004, combining (HNA) Group's Hainan Airlines (HNA), Xinhua Airlines (XIH), Chang 'an Airlines (CGN), and Shanxi Airlines (CHG), received its air operating certificate (AOC) from (CAAC) (CAC), the Centre for Asia Pacific Aviation (CAPA) said. The way now is paved for "Grand China (GCA)" to complete a listing in Hong Kong, possibly as early as the 2nd half of this year. (CAPA) Executive Chairman Peter Harbison said the listing could raise up to $500 million. Hainan (HNA), once a leisure-only carrier, now derives 16% of its capacity from Beijing, and only 9% from Haikou, the capital of Hainan Province. It plans to add 2 737-800s, 3 A319s and 2 A330s to its fleet of 101 airplanes this year. (HNA) Group's expansion plans also include its new regional, Grand Xinhua Express (GXE).

June 2007: (CAAC) (CAC) granted a public air transport enterprise operating license to the (HNA) Group for its "Grand China Air (GCA)" entity, bringing the Hainan Airlines (HNA) parent one step closer to launching its new carrier, which will combine Hainan along with Xinhua Airlines (XIH), Chang 'an Airlines (CGN), and Shanxi Airlines (CHG), and be the country's 4th-largest commercial carrier.

(HNA) Group President, Chen Feng called the license "an important milestone." It follows the April award of (GCA)'s general aviation business license. Chen said "Grand China" now will work toward merging the 4 carriers, raising CNY5 billion/$654.9 million in capital and listing the new company on the Hong Kong Stock Exchange, possibly by year end.

(HNA) currently holds 60% of Xinhua (XIH), 93.75% of Shanxi (CHG), and 81.16% of Chang 'An (CGN). An internal source said that "Grand China Air (GCH)" Holding will purchase the remaining outstanding shares of the three airlines "very soon."

(GCH), to be based in Beijing, has registered capital of CNY3.09 billion. State-owned, Hainan Development Holding holds 48.6%, with a CNY1.5 billion investment, while (HNA) Group and Starstep Ltd hold 19.1% and 18.6%, respectively. Minority shareholders are Yangtze River Investment Holding (8.1%), and Hainan Qixing Investment (5.3%).

Industry analysts have pointed out that (HNA)'s asset liability rate, which has been as high as 94.3%, would mitigate its ability to raise funds for fleet expansion. Launching (GCH) and listing in Hong Kong will allow it to attract more strategic investors, while evading certain financial risks.

(HNA) currently holds 9% of the domestic air transport market, that is dominated by Air China (BEJ), China Southern Airlines (GUN), and China Eastern Airlines (CEA).

September 2007: Hainan Airlines (HNA) posted a +CNY189.71 million/+ $25.18 million net profit in the 1st half of 2007, a better-than-8fold increase over +CNY20.8 million earned in the year-ago period, on a +13.1% lift in operating revenues to CNY6.53 billion. (HNA) credited the strong performance to improvements in operating efficiency and "reinforcement of its branding value," while industry analysts also cited "bullish domestic market demands" and appreciation of the yuan. Operating expenses rose +16.14% to CNY5.36 billion. Passenger boardings jumped +21.2% to 7.47 million while cargo traffic grew +15.45% to 1.14 billion (FTK)s.

Concurrent with the earnings announcement, the company said that "Grand China Air" (GCH) Holding has decided to purchase 31.7% of (HNA) subsidiary, Lucky Air (LKY) from another subsidiary, Shanxi Airlines (CHG). This is in line with (HNA)'s plan for the launch of its "Grand China Air" (GCH) entity.

Earlier this year, (HNA) Group Chairman, Cheng Feng noted that its "Grand China Air" (GCH) entity will merge its subsidiaries including Hainan Airlines (HNA), Xinhua Airlines (XIH), Chang 'an Airlines (CGN) and Shanxi Airlines (CHG) to become the country's 4th-largest commercial carrier. (HNA) currently holds 60% of Xinhua (XIH), 93.75% of Shanxi (CHG), and 81.16% of Changan (CGN). An internal source said that "Grand China Air" (GCH) Holding will purchase the remaining outstanding shares of the carriers "very soon."

November 2007: (HNA) Group's "Grand China Air (GCH)," designed to be the country's 4th-largest commercial carrier, launched on November 29 in Haikou, capital of Hainan Province, according to ex-(HNA) Chairman Chen Feng. Hainan Development Holding Co holds 40.65% of (GCH) with an investment of CNY1.5 billion, while (HNA)'s Hainan Airlines (HNA) invested CNY900 million in a 24.08% stake. Other investors include Starstep, Yangtze River Investment, Pan American Aviation Holdings, Qiye Industrial Investment, Union Trans-Atlantic, and Perfect Star Investment. To pave the way for (GCH)'s launch, Chen resigned as Hainan Airlines (HNA) Chairman on November 1. (GCH) will be the controlling stakeholder in Hainan (HNA) and under Chinese regulations, the Chairman of a company that is the controlling stakeholder of a listed company cannot also Chair the listed company.

(GCH) will to merge Xinhua Airlines (XIH), Chang 'an Airlines (CGN), and Shanxi Airlines (CHG) into 1 entity. (HNA) currently holds 60% of Xinhua (XIH), 93.75% of Shanxi (CHG), and 81.16% of Changan (CGN). (GCH) will aim to purchase the remaining outstanding shares of those carriers "very soon." Chen also noted that the new entity plans to be listed on the Hong Kong stock exchange. "Hainan Airlines (HNA) aims to solve its high debt ratio, by reorganizing to launch Grand China Air (GCH) and to list in Hong Kong, as the debt ratio would negatively impact raising funds for fleet expansion," he said. (HNA)'s debt ratio was about 80% in the 3rd quarter.

Grand China Air (GCH), created by the (HNA) Group to be the country's 4th-largest commercial carrier, operated its 1st flight from Beijing to Dalian, although it postponed the ceremony to mark its launch to next month. (GCH) will operate under the (IATA) code of CN. It is noteworthy that it chose to operate out of Beijing, while its headquarters remains in the provincial capital of Haikou. An industry insider said that (GCH) "has no other alternatives," as the Hainan provincial government made its CNY1.5 billion investment contingent on the headquarters remaining in the province. "Meantime, (CAAC) also wouldn't approve its name as "Grand China Air" (GCH) unless it is based in Beijing. (HNA) has the ambition to be a national carrier, so it didn't want to give up the name," the source said. (HNA) said it will merge Hainan Airlines (HNA), Xinhua Airlines (XIH), Chang 'an Airlines (CGN), and Shanxi Airlines (CHG) into 1 entity "very soon," after which it will list on the Hong Kong Stock Exchange. Even then it will have a long way to go to catch the Big 3 of Air China (BEJ), China Southern Airlines (GUN), and China Eastern Airlines (CEA), which hold a combined 80% share of the domestic market while (GCH) grabs just 9%.

September 2011: Hainan Airlines (HNA) reported a 1st-half net profit of +CNY669.52 million/+$104.7 million, up +20.2% compared to net income of +CNY556.83 million in the year-ago period, owing to “robust growth of domestic market demand.”

Operating revenue jumped +19.6% to CNY11.56 billion, while operating expenses rose +18.1% to CNY8.74 billion. Passenger boardings rose +4.3% to 9.6 million, with an average load factor of 83.7% LF, up +2.5 points year-over-year. Cargo traffic volume decreased -2.3% to 132,100 tonnes. Average airplane utilization rate reduced -10.9% to 9.46 hrs.

As of June 30, (HNA) operated a total fleet of 105 airplanes, comprising 6 737-300s, 9 737-400s, 72 737-800s, 3 A330-300s, 7 A330-200s, 3 A340-600s, 3 767-300s and 2 737-700s.

(HNA) announced its 3 subsidiaries also earned healthy 1st-half profits. China Xinhua Airlines (XIH) earned a net profit of +197.9 million, Chang’an Airlines (CGN) posted a net income of +51.1 million and Shanxi Airlines (CHG) reported a net profit of +27.4 million.

December 2011: Chang An Airlines (CGN) operates scheduled, passenger & cargo services within the Shaanxi province of China and to neighboring provinces.

Employees = 1,000.

(IATA) Code: 2Z. (ICAO) Code: CGN - (Callsign - CHANGAN).

((http://www.changanair.com.cn). (caair@pub.xaonline.com).

Parent organization/shareholders: Hainan Airlines (HNA) (87.35%); others (18.84%).

Owns: Shan Xi Airlines (CHG).

Main Base: Xi'an - Xianyang International Airport (XIY).

Hub: Yinchuan-Donghe airport (INC).

April 2015: News Item A-1: Chang An Airlines (CGN) shareholder, the (HNA) Aviation Group, has increased its stake in the carrier to 16.69% following its acquisition of 238,095,238 newly issued shares valued at CNY400 million/USD64.41 million in total. (CGN)'s registered capital has also increased to CNY2.86 billion/USD460.55 million.

China's WCARN.com said the overall shareholding structure of (CGN) stands at Hainan Airlines (HNA) with 61.43%, (HNA) Aviation with 16.69%, while the remaining 21.88% is held by a Beijing based company.

Using a fleet of 4 737-800s, Chang An (CGN) operates scheduled passenger and cargo services within Shaanxi province, as well as to neighboring provinces. All flights operate under Hainan Airlines (HNA) flight numbers.

News Item A-2: Hainan Airlines (HNA)’s subsidiary, Chang’an Airlines (CGN) has resumed independent operations, instead of merging with Hainan Airlines (HNA), Xinhua Airlines and Shanxi Airlines (SHX).

(CGN), the Xi’an-based carrier is expected to launch its inaugural flight in May and will operate a Boeing 737-800 initially on routes from Xi’an to the cities along China’s Silk Road.

Chang’an Airlines (CGN) started formal operations in 1993 and merged with Hainan Airlines (HNA) in August 2000.

It has a registered capital of CNY2.86 billion/$443 million after the (HNA) Group increased its capital injection of CNY400 million in March 2015. Hainan Airlines (HNA) has an 83.3% stake, while Hainan Airlines (HNA) parent, the (HNA) Group holds the remaining 16.7% stake.

(HNA) said the central and local governments support restoring Chang’an Airlines (CGN) as an independent carrier to enhance its position in NW China.

December 2016: 2 737-86J (36872, B-1903; 37769, B-1902), ex-(N263SC, N278SC) deliveries.

June 2017: 2 737-8EH (40741, B-1482; 40742, B-1483), ex-(N291PH, N293PH), deliveries.

Fleet:
(definitions)

Click below for photos:
CGN-737-700
CGN-737-800 - 2015-04.jpg
CGN-737-8FH
CGN-A319

September 2017:

0 737-705 (CFM56-7B24) (230-29091, /99 B-5091; 260-29092, /99 B-5092), (BBB) LSD 2004-11. RTND. 148Y.

2 737-8EH (CFM56-7B) (40741, B-1482; 40742, B-1483), ex-(N291PH, N293PH), 8F, 156Y.

2 737-8FH (CFM56-7B26) (1649-21649, /05 B-5115; 1745-29672, /05 B-5116), (HNA) WET-LSD. WITH WINGLETS. 8F, 156Y.

2 737-8FH (CFM56-7B26) (2042-35089, /06 B-5180; 2073-35090, /06 B-5181), FLY LSG & ORIX LSD 2006-10. 8F, 156Y.

2 737-86J (CFM56-7B26) (36872, B-1903; 37769, B-1902), EX-(N263SC, N278SC 2016-12. 8F, 156Y.

0 A319-112 (CFM56-5B6/P) (2611, /05 B-6215), (HNA) WET-LSD. RTND. 138Y.

0 A319-115 (CFM56-5B7/P) (2557, /05 B-6210; 2561, /05 B-6211), (HNA) WET-LSD 2005-09. RTND. 138Y.

0 A319-115 (CFM56) (2581, /05 B-6212; 2611, /05 B-6215), (HNA) WET-LSD. RTND. 138Y.

1 A321 (CFM56), 134Y.

1 BOMBARDIER DASH 8-Q402 (PW150A) (4005, /00 B-3567; 4006, /00 B-3568; 4039, /01 B-3569), 4006; 4039; TO HORIZON AIR 2006-02. 78Y.

5 AVIC 1 XAC Y7-100C (5A-1) (09701, /90 B-3444; 09705, /90 B-3445; 06703, /87 B-3475; 12701, /92 B-3707; 11705, /92 B-3708), 52Y.

2 AVIC I XAC Y7-200A (5A-1) (0001, /99 B-3720; 0003, /99 B-3721), 60Y.

Management:
(definitions)

ZHONG LIANG SHI, DIRECTOR GENERAL.

DU XIAOPING, CHIEF EXECUTIVE OFFICER (CEO).

ZHA YINING, PRESIDENT.

JIANFEI SHANG, FINANCIAL DIRECTOR.

JIAN HAO, OPERATIONS MANAGER.

TIAN QISHENG, VICE PRESIDENT.

DECANG CHEN, SENIOR ENGINEER.

 
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