China Eastern Airlines intends to establish a new airline in Hainan along with a group of other investors to take advantage of planned free-trade area and tourism growth, it says in a filing to the Hong Kong stock exchange.
Shanghai-based carrier would be the majority shareholder in Sanya International Airlines
Other backers include the governments of Hainan province and Sanya city, Juneyao Airlines and a unit of Trip.com
Initial registered capital will be 3-6 billion yuan
Filing makes no mention of HNA, the indebted conglomerate and owner of Haikou-based Hainan Airlines
