Hainan Airlines Holding is investing CNY750 million ($106.5 million) into its cargo unit, HNA Cargo, a subsidiary of HNA Aviation Group. Shareholders approved the move at a general meeting on Dec. 17, 2025. The investment is intended to help HNA Cargo reduce debt, improve its capital base, and better connect the airline’s passenger flights with its freighter operations.
HNA Cargo, the air freight division of HNA Aviation Group, carries goods using space on passenger flights from Hainan Airlines, Capital Airlines and Lucky Air, alongside its own freighter planes from Suparna Airlines and Tianjin Air Cargo. Furthermore, the company also updated its governance by electing a new board of directors and removing the board of supervisors.
Hainan Airlines Acquires 16% Stake in HNA Cargo
HNA Aviation Group’s ownership will drop from 92.4% to 77.4%. Of the total, CNY50.2 million ($7.1 million) will go to registered capital, and CNY699.8 million ($99.5 million) to capital reserves. HNA Cargo also controls 77.9% of Suparna Airlines, transferred earlier in 2025. Suparna Airlines operates both passenger and cargo flights and is known for its Boeing fleet, including 737s, 787 Dreamliners, and dedicated freighters, serving routes across China.
The airline said the investment will come from internal funds and won’t affect daily operations, they further added the move will help grasp future growth opportunities in the air cargo market.
HNA Cargo Targets Market Growth with Internal Investment
HNA Cargo reported total assets of CNY11.6 billion ($1.6 billion) and a net profit of CNY6.4 million ($910,000) for the first 10 months of 2025. The airline said the capital injection will help the cargo unit expand and take advantage of growth in China’s air freight market.
The airline moves cargo using space on passenger flights as well as dedicated freighter aircraft. HNA Cargo said the funding is expected to support fleet operations, debt management, and strengthen its business overall. The company aims to improve efficiency and better meet customer demand, positioning itself as a more competitive player among China’s expanding logistics and air cargo sector.
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