Economy

Cai Jianjiang becomes Shenzhen Airlines' new head

By Hou Lei (chinadaily.com.cn)
Updated: 2010-05-13 13:52

Cai Jianjiang becomes Shenzhen Airlines' new head

Cai Jianjiang, Shenzhen Airlines' new chairman [sohu.com]

Cai Jianjiang, current president of Air China, became the new chairman of Shengzhen Airlines on May 12, Thursday's Oriental Morning Post reported.

Shengzhen Airlines, China's fifth largest carrier, announced the structure of its new management team on early May 12 at a conference of its executives at which former Shandong Airlines' president Feng Gang was also appointed as Shenzhen Airlines' president.

Liu Jun, president of Total Logistics Co – Shenzhen Airlines' second largest shareholder, was announced to be the carrier's new party chief and vice president, according to the newspaper.

Mr. Cai, now the top leader of Shenzhen Airlines, used to be the general manager of the carrier between 1999 and 2001. Then he left Shenzhen Airlines and became a senior executive at Air China. His term as Air China's president began on February 1, 2007.

Air China is the controlling shareholder of Shenzhen Airlines, with 51% of its?stock and holds 49.406% shares of Shandong Airlines Group, the parent company of Shandong Airlines.

Fan Cheng, the current chairman and acting president of Shenzhen Airlines, will return to Air China, having sent Fan to be in charge of the carrier last December after its de facto controller Li Zeyuan was investigated by police, the report said.

At that time Air China was Shenzhen Airlines' second largest sharholder.

Air China gained control of Shenzhen Airlines in March this year with a capital injection of 682.1 million yuan ($100 million), increasing its stake in the company from 25% to 51%.

Oriental Morning Post said after that Air China's market share in Shenzhen has?increased to over 40% from the previous 10%.

Kong Dong, head of Air China, said Wednesday at the 2010 China Civil Aviation Development Forum that Shenzhen Airlines has been integrated into the financial system of Air China since April 20, according to the report.

Mr.Kong also told the press Air China plans to expand its fleet to 886 aircraft and fly 149 million passengers in 2020, making it one of the top five carries in the world, Oriental Morning Post said.

The newspaper said Air China's next step is to reinforce its operations in Shanghai, citing Kong.