Addendum
Chinese investors join Virgin Australia board
November 1st 2016
Two Chinese investors, who bought into Virgin Australia (VA) earlier this year, have named the executives that will join the Australian airline’s board. Read More » HNA Group, parent of China’s fourth largest carrier, Hainan Airlines, has chosen its chief innovation officer, Nang Qi, as their VA director. Qi was previously the company’s deputy general manager of finance and president of HNA’s import and export business.
 |
The Nanshan Group, a huge Chinese conglomerate with interests that range from mining to property and aviation, has nominated Chien-tsung Lu as its VA board director. Lu is vice-chairman of the group’s regional carrier, Qingdao Airlines, and a former dean of Nanshan Aeronautical College. At Qingdao, Lu was responsible for flight operations, revenue management and international engagement.
When Qi and Lu join the VA board, Virgin’s directors will increase to 11. The appointments are expected to be ratified at VA’s annual general meeting on November 16. The two Chinese companies own 40% of Virgin Australia after the airline negotiated a $1.1 billion capital raising to manage its debt and boost its balance sheet.
