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Air China's parent firm to own 700 aircraft by 2015

Feb. 14, 2012 (China Knowledge) - China National Aviation Holding Co (CNAH), the parent co of Air China Ltd<601111><0753>, the largest carrier in the country by market value, aims to increase its fleet to 700 aircraft by 2015, said CNAH General Manager Wang Changshun.

Wang noted CNAH expects to become one of the global top five aviation companies in terms of asset value, profitability and sales revenues by 2015. The state-owned air transport holding group currently ranks 10th among its global peers, and the firm's profit reached more than RMB 15 billion in 2010, more than any other Chinese carriers.

At the end of last year, CNAH had more than 430 aircraft with total assets of over RMB 180 billion or around US$28.6 billion. Air China, a major unit of CNAH, had 393 planes as of the end of 2010, most of which were purchased from the world's largest two airplane makers, Boeing Co and Airbus SAS, sources reported.

Besides Air China, CNAH, established in 2002, is also the shareholder of Shenzhen Airlines Co, Shandong Airlines Co, Air Macau Co, Dalian Airlines Co and Beijing Capital Airlines.

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