Continued international expansion by Chinese airlines will also fuel additional aircraft demand, benefiting the two big global manufacturers Boeing and Airbus.
ARC said that it anticipates that its airline and agency customers will desire to accept Alipay in the very near future.
The carrier is planning private placements in Shanghai and Hong Kong, and Juneyao Airlines, among investors, is to subscribe to the sale.
Wang owned about 15% of HNA, the Chinese conglomerate, according to the group’s last update of its ownership structure.
The aim is to build a sustainable bridge to the Asian market with its massive, dynamic culture of innovation.
The purchase comes after HNA abandoned plans for an initial public offering for the Swiss caterer through which it had sought to raise as much as 1.1 billion francs ($1.1 billion).
The airline operator will allocate 2.5 billion yuan in cash and 7.5 billion yuan in tangible assets to set up a subsidiary called China Southern Airline Xiongan.
TripStack wants to provide OTAs with access to Low-Cost Carriers (LCCs) and “Virtual Interline” fares.
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