Qingdao Airlines rebrands to Newloong Air

admin
By admin October 12, 2015 20:43

Qingdao Airlines rebrands to Newloong Air

Start-up carrier Qingdao Airlines will rebrand to Newloong Air once its shareholding transfer has been completed. Qingdao Airlines is a joint venture among state-owned Qingdao Municipal Transport Development Group, Shandong Airlines (SC) and Nanshan Group Co. In addition to the 25% stake owned by Qingdao Transport Development Group, Nanshan Group holds a 55% stake and Shandong Airlines holds 20%.

In July, Qingdao Transport Development Group sold its 25% stake in Qingdao Airlines with Shandong Airlines transferring its entire 20% stake to a subsidiary of Nanshan Group. Once the sales go through, it would give Nanshan Group a 75% stake in the carrier thus shifting its ownership structure from parastatal to exclusively private.

admin
By admin October 12, 2015 20:43