The retrospective operation record of HNA Group is about 14 years. During the past 14 years HNA Group has become a large-scale enterprise group with diverse businesses from the predecessor Hainan Provincial Airlines Company.

Start-up phase:

The roots of HNA Group can be traced to the Hainan Provincial Airlines Company in early 1990s. With the tide of China's reform and opening up since 1978, the economic development of Chinese society changes rapidly. In 1988, Hainan was separated from Guangdong Province and became a formal province by the Chinese central government. And it became the largest national special economic district at the same time. Many domestic and overseas investors were attracted by the vital economic policy and swarmed into the island. But the investors found that it was hard for them get into the island sometimes because the poor transportation condition. The Provincial Government determined to change the situation by establishing an airlines company based the newly founded province. And Mr. Chen feng, the Chairman of Board of directors of HNA Group, was assigned the Aaviation Affair Assistant to Provincial Governor of Hainan Province to establish an airlines company with an initial capital of 10 million RMB.

After 2 years preparation, Mr. Chen feng and his team endeavored to overcome a lot of obstacles and uncertainties, together with utilized every opportunity the company may have at that time. On 2nd Many 1993, the first official flight of Hainan Provincial Airlines Company was recorded into the history of CAAC. Barely people knew that the company will grow into an outstanding company among all the Chinese regional airlines companies.

Rapid Growth Phase:

As an economics of scale industry, the airlines company should expand to some specific scale to be profitable. And as a capital intensive industry, the airlines company is hard to expand rapidly through its own capital. So the capability of utilizing the credit and capital market is essential for an airlines company to go up.

Fortunately the company grew rapidly accompanying the development of Hainan Province and China. Besides the safe operation and excellent cabin service, another core competitive power of the company was the ability of fully utilizing domestic and international capital. The company achieved amazing growth through the leverage of capital market. The registered name of Hainan Provincial Airlines Company changed to Hainan Airlines Company Ltd. (in brief as "HNA") during that time, and it's a signal for the company to become a public enterprise. The company was the first sino-foreign joint venture company of the civil aviation industry of China. It's also the first civil aviation company both listed in China's A and B stock exchange markets. With the strong wings of capital and operation, the company became one of the top 10 airlines in China within 5 years.

Metamorphosis phase:

The HNA people did not become complacent after years of success. They sought a bigger dream than ever. In year 2000, the Hainan Airlines company was restructured to form an enterprise group. Those less relevant or supportive businesses were separated from the airlines company. That's the start point of the HNA Group. In the first year of the new millennium, HNA Group declared the business strategy of "Becoming a national well-known enterprise in 3 years, an asian well-known enterprise in 7 years, and a world-class enterprise in 9 years" to the world. After that, HNA Group took over the ownership of China Xinhua Airlines, Chang'an Airlines and Shanxi Airlines, built the fourth largest airlines group in China without the privilege of mainly state-owned background.

At the same time, HNA Group went into the upstream and downstream industries of airlines business like airport business, hotel business, tourism business. Through this strategic transformation, HNA Group successfully changed to a diversified businesses group. Now HNA Group has 7 main business lines including Airlines, Airports, Hotels, Logistics, Property, Retail and Tourism. We are looking forward to build a world-class enterprise in the future.