TIANJIN, China, Feb.13, 2018 /PRNewswire/ -- On February 12 Tianjin TianBao Holding Co., LTD and Tianjin Airlines Co., LTD (Tianjin Airlines) formally signed a capital increase framework agreement in Tianjin. According to the agreement, RMB 400 million investment is planned for Tianjin Airlines from current shareholder Tianjin TianBao Holding Co., LTD.
As one of the shareholders Tianjin TianBao Holding Co., LTD, an investment platform of Tianjin Port Free Trade Zone Administrative Committee, has played an important role as a sponsor since Tianjin Airlines was founded in 2009. At the end of 2014, Tianjin TianBao Holding Co., LTD has increased the investment of RMB 200 million in Tianjin Airlines, and it is expected to increase capital investment by RMB 400 million yuan in 2018. The capital increase program is a sign of confidence from the shareholder on the excellent performance of Tianjin Airlines over the past 9 years and that they are optimistic about the development of Tianjin Airlines. This capital increase is good news for Tianjin Airlines, this will improve the operating capacity of Tianjin Airlines and provide significant support for its further development as Tianjin Airlines continues to transform to an international airline.
As the youngest 4-star Skytrax rated airline, Tianjin Airlines aims to build a leading and competitive airline. Tianjin Airlines' annual flight punctuality ranked No. 1 among China's top 10 major Airlines in 2016 and 2017. It also won the Most Improved Airline and one of the world's best airlines for 2018 by Airline Ratings. To date, Tianjin Airlines has operated a fleet of nearly 100 aircraft and already opened 248 air routes, including 21 international routes to 128 cities. The annual passenger volume has exceeded 13 million person-times. By the end of 2017, Tianjin Airlines has had safe operations for 10 years, with over 1,530,000 hours of safe flights.
As a member airline of the HNA Group, the network of Tianjin Airlines has not only spread all over China, but also reached Europe, Australia, New Zealand, Japan, Korea, Russia and Thailand. In 2018, Tianjin Airlines plans to introduce A350 aircraft, add more intercontinental destinations such as Los Angeles and Madrid, and develop more long-distance international and intercontinental routes.
SOURCE Tianjin Airlines