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Two airlines sign cooperative agreement

A celebratory ceremony was held on October 21 for a successful cooperative agreement signed by Hebei Airline Group and Xiamen Airlines.

This strategic cooperation might mark a turning point by changing the structure of the domestic airline industry, Wang Sheping, director general of the Hebei Airline Group, said.

Two airlines sign cooperative agreement

Wang Sheping(right), president of the Hebei Airline Group shakes hand with her counterpart Che Shanglun after the signing of the contract. Photo by Liu Xiang.

According to the contract, the Hebei airline will hold 15 percent equity interest of Xiamen airline and be given full support in return.

In addition, it will add three large Boeing 737 aircrafts wet leased from the Xiamen airline, and two finished being transported during the ceremony.

“Wet lease” is a special way for renting aircraft without changing the insignias and numbers. The owners usually provide the air crew as well.

This practice is quite welcomed by airlines because it will ease companies’ transport pressures while saving a large amount of money, insiders said.

By Hao Nan

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