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Volume 14,Issue 3 Autumn 2012

Hongdu Aviation to increase capital of affiliate company


Hongdu Aviation announced on March 26 that it would increase the capital of subordinate Jiangxi Changjiang General Aviation Co. to expand into the general aviation business. The move is aimed at developing general aviation services such as flight clubs, flight schools and corporate business services. With the fresh capital, Hongdu will strive to increase its share in the general aviation market. Jiangxi Changjiang is the only general aviation company in Jiangxi Province. It was established in 1996 and mainly operates within general aviation -- mostly agriculture and forest operations in the East China area. The company’s current qualification is Class B. Thus, certain general aviation services could not be operated because of the restriction. Under state regulations, an enterprise operating business flights, taxi flights and general aviation charter flights should have a capital of at least RMB 50 million. Hongdu Aviation will inject RMB 49.96 million into Jiangxi Changjiang to meet the requirement, and it will designate Jiangxi Province as its general aviation base. The head of the Office of Science Technology and Industry for National Defense of Jiangxi Province said that the first of ten important projects will be the general aviation aircraft manufacture base. In addition to the two big aircraft manufacturers, Hongdu Aviation and Changhe Aircraft Industries Group, there is an unmanned aircraft base that was established in Nanchang.

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