Latest TRIP News
Jun 15, 2020
11 minutes ago Beijing (PingWest)—Trip.com, China's largest online travel agency, has joined hands with government-backed China Eastern Airlines, privately-owned Juneyao Airlines to launch a new airline. The new company, named Sanya International Airlines, will be focused on the island destination of Hainan, home to eight million and a free-trade hub. The registered capital is said to be between 3 billion yuan to 6 billion yuan, of which China Eastern seizes 51%, Juneyao Airlines accounts for 15%, Trip.com holds 14%, and Hainan Transportation Investment Holdings Co., Ltd. accounts for 10 %, and the remaining 20% is controlled by Hainan authorities. The airline industry could suffer losses of more than $84billion this year, the International Air Transport Association, warned last week.