China's startup Qingdao Airlines (QW) is to be rebranded itself as Newloong Air once its shareholding transfer is completed.
According to a source familiar with the matter, the first aircraft for Newloong Air has completed its first flight in Toulouse, France, which is an Airbus A320-200 (Registration B-8283) featuring semi-finished new livery of the rebranded airline.
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 Co. announced to sell its 25% stake in Qingdao Airlines for 251 million yuan, followed by another state-owned shareholder Shandong Airlines' plans to transfer 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.
The company's Board has already approved the name change, and now it is undergoing related approval procedures. According to a person familiar with the matter, Qingdao Airlines is probably to change its name to Newloong Air officially on Jan. 1, 2016.
In late September, the Qingdao-based carrier announced its own plans to launch an initial public offering (IPO) on domestic stock market in 2020. Qingdao Airlines said becoming fully privatized would "bring more flexibility" and make it easier to go public.
Since its maiden flight in April 2014, Qingdao Airlines has developed rapidly. Currently, it operates a fleet of six Airbus A320s on more than 10 domestic routes from Qingdao to Beijing, Chengdu, Changsha, Harbin and etc.
Meanwhile, Qingdao Airlines is in the process of rapidly expanding its fleet which is expected to reach 102 by the end of 2025. In addition to three more A320s due for delivery before year-end, it also expects to take delivery of five A320s and eighteen A320neos from next year onwards.
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