Hainan Airport subsidiary completes sale of flight training unit

Hainan Airport Facilities Co., Ltd. (Hainan Airport) announced the completion of the equity transfer of Hainan Tianyu Flight Training Co., Ltd. (Tianyu Flight Training) by its wholly-owned subsidiary, Hainan Airport Development Industrial Group Co., Ltd. The transaction, initially approved on June 6, 2025, involved the sale of 100% of Tianyu Flight Training's equity to Hainan Airlines Holding Co., Ltd. for a price of 799,070,000.00 yuan.

Following the receipt of the full equity payment, industrial and commercial change registration has been completed, and a new business license has been obtained from the Hainan Provincial Market Supervision Administration. Tianyu Flight Training's equity structure now reflects 100% ownership by Hainan Airlines Holding Co., Ltd. Hainan Airport’s subsidiary no longer holds any equity in Tianyu Flight Training.

Further details on the transaction, including adjustments made through a supplementary agreement on August 27, 2025, focused on asset impairment testing, compensation arrangements, and interim profit and loss, were previously disclosed. Tianyu Flight Training, established on November 3, 2015, with registered capital of 374,953,130.00 yuan, specializes in aviation training and related services.