Hainan Air Expects 50 Pct Annual Sales Rise
HNA Group, the parent of Hainan Air expects its sales to rise about 50 percent from a year earlier to CNY150 billion yuan (USD$23 billion) in 2011, rising further to CNY500 billion yuan by 2015, its chairman, Chen Feng, said on Friday.
HNA group underwent a restructuring to pave way for an overseas listing of some assets.
Hong Kong Airlines, an HNA subsidiary is "quite successful" with its ongoing private placement and may seek a public listing in the future. He declined to elaborate.
He made the remarks in an interview at the Boao business forum on the southern Chinese island of Hainan.
Local media have said Hong Kong Airlines aimed to raise between HKD$500 million and HKD$1 billion via an IPO in Hong Kong next year.
Hong Kong Airlines signed a memorandum of understanding in March for 32 Boeing 787 and six 777 freighter jets.