Qingdao Airlines to change ownership; rebrand as Xinlong Air

Qingdao Airlines (QW, Qingdao) is to be rebranded Xinlong Air in the wake of plans to massively restructure its shareholding later this month. 

 A filing with the Qingdao Property Rights Exchange shows that at the end of last month, state-backed Qingdao Transport Development Group Co. announced plans to dispose of its 25% stake for CNY251 million (USD40.4 million). The parastatal is currently holding public consultations with a decision expected by the end of the month. 

 In the same vein, other shareholder Shandong Airlines (SC, Jinan) has also put in motion plans to sell off its 20% stake to New Nanshan International Holdings Ltd., a subsidiary of Xinlong's largest shareholder, Nanshan Group. Should the sale go through, it would give Nanshan Group a 75% stake in the carrier thus shifting its ownership structure from public/private to exclusively private.

 With six A320-200 (sl)s, Qingdao Airlines currently serves Changsha Datuopu, Chengdu, and Harbin from its Qingdao hub. Plans are in the pipeline to grow its fleet to sixty aircraft by 2020 and 100 by 2025. 

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