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.
Major carriers including China Eastern, Air China and China Southern have raised economy-class fares for flights between Beijing and Shanghai amid fierce competition on the prime route.
More passenger data can lead to better service, but carriers know that fliers want some limits on how much of their personal information to use.
It will enable two new ForwardKeys flight searches tools to reveal macro traveller trends - ’Travel Willingness’ and ‘Catchment Area’- which Skyscanner captures as part of its Travel Insight platform.
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