Origins of China National Aviation Holding The major carrier of China could be traced back to
China National Aviation Corporation which was nationalized in 1949. In 1988,
Air China () and other airlines were formed by the separation of commercial activity and
regulating body of the government. The once defunct aforementioned
legal person of the group
China National Aviation Corporation (), was also re-registered in Hong Kong on 31 August 1984 as a foreign company. The company was re-registered in China in May 1991, which
Civil Aviation Administration of China owned 79% stake,
Air China,
China Eastern Airlines and
China Southern Airlines owned 7% each. On 11 October 2002, the new China National Aviation Corporation merged with
Air China and
China Southwest Airlines, forming
China National Aviation Holding Company () under the
Law on Industrial Enterprises Owned by the Whole People. After the merger, China National Aviation Corporation's subsidiaries in Hong Kong still using the name "China National Aviation Corporation (Hong Kong)" and "China National Aviation Corporation (Group)."
China National Aviation Corporation China National Aviation Corporation was acted as a "window company" in the British Colony since 1984, even after the handover of Hong Kong back to China, and ceased to do business in Hong Kong 10 years later (on 10 August 2007). Several subsidiaries were also incorporated in Hong Kong, such as
China National Aviation Corporation (Hong Kong) Limited on 4 August 1992 and then
China National Aviation Corporation (Group) Limited on 13 June 1995 (CNAC (HK) became its subsidiary) The stakes, along with 50% stake of
Jardine Airport Services (JASL) was transferred to a listed subsidiary
China National Aviation Company Limited (former ticker symbol SEHK:1110, incorporated on 3 February 1997). In turn, China National Aviation Company Limited was 69% owned by Air China Limited (acquired from CNAC(G)). The stake in Dragonair (43.29%) was acquired by
Cathay Pacific in 2006, and China National Aviation Company Limited was also privatized in 2007 by Air China Limited. On 10 June 2008, the 50% stake in JASL was sold back from Air China to CNAC(G). Dragonair, as of 2016, was a wholly owned subsidiary of Cathay Pacific, which Air China, now a subsidiary of China National Aviation Holding, had a cross ownership between the two listed companies. CNAC also purchased a building on 10
Queen's Road Central,
Central, Hong Kong Island in 1992, It was sold in 2008 to
Shanghai Commercial Bank for HK$1.388
billion. It was demolished to make way for the headquarters of Shanghai Commercial Bank.
U.S. sanctions In January 2021, the United States government named China National Aviation Holding as a company "owned or controlled" by the
People's Liberation Army and thereby
prohibited any American company or individual from investing in it. == Corporate affairs ==