Air Transport World

Chinese airline consolidation begins. (News Briefs).(Brief Article)

China's long-planned consolidation of its airline industry took a significant step in mid-Oct. with the formation of China National Aviation Holding Co., bringing together state-owned Air China, China Southwest Airlines and China National Aviation Corp. CNAC owns Zhejiang Airlines with seven A319s/A320s and is also the largest shareholder, with 43%, in Hong Kong-based Dragonair, which operates 24 aircraft. The combined group will have annual revenues of 25 billion yuan ($3 billion) in 2002 operating a fleet of 118 aircraft, according to Air China.

At the same time, China Southern Airlines announced the formation of China Southern Air Holding Co. …

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