Group 1 - The core point of the article is that Hainan Airlines plans to acquire 100% equity of Hainan Tianyu Flight Training Co., Ltd. for 799.07 million yuan, marking a significant asset restructuring in the aviation sector following the new "National Nine Articles" policy [7][9][13] - The acquisition is expected to enhance Hainan Airlines' core competitiveness and operational efficiency by integrating flight training services into its business model, thereby reducing training costs for pilots and crew members [9][14] - The transaction price reflects a 34.37% increase over Tianyu's net asset value of 595 million yuan as of the end of 2024, indicating a strategic investment in a key asset within the aviation training industry [9][14] Group 2 - Hainan Airlines will also increase capital in its subsidiary HNA Technology, with Hainan Airlines contributing approximately 1.736 billion yuan and Hainan Airport contributing about 814 million yuan, raising HNA Technology's registered capital to approximately 5.019 billion yuan [7][9] - The acquisition is seen as a return of ownership, as Tianyu was previously sold to Hainan Airport, which is controlled by the Hainan State-owned Assets Supervision and Administration Commission [8][10] - The deal is positioned as a response to the recovery of the civil aviation market post-pandemic, with Tianyu's business stability and profitability expected to improve, thus contributing positively to Hainan Airlines' overall financial performance [11][14]

6月6日，海航控股发布公告，公司拟以支付现金方式购买海南空港开发产业集团有限公司持有的海南天 羽飞行训练有限公司100.00%股权，交易金额为7.99亿元。此次交易被认定为重大资产重组，将使公司 取得天羽飞训的控股权，并纳入合并报表范围。 报告书（草案）显示，天羽飞训主营业务包括飞行训练、客舱训练、模拟机维护及飞行体验业务，属于 上市公司海航控股的同行业或上下游，并与海航控股主营业务具有协同效应。 据悉，此次交易的卖方空港集团是上市公司海南机场的全资子公司，目前实际控制人为海南省国有资产 监督管理委员会。海航控股表示，天羽飞训原为海航控股全资子公司，本次交易将使天羽飞训重新回 归。 值得注意的是，天羽飞训的业务集中度非常高，主要收入来自海南航空集团及其同一控制下的企业。 2023年、2024年，天羽飞训对前五名客户的合计销售收入分别为4.03亿元和3.73亿元，占当期营业收入 的比例分别为95.82%和97%。其中，来自第一大客户海南航空集团及其同一控制下的企业收入占比分别 为82.83%和82.49%。 海航控股于1993年1月成立，主要从事国际、国内（含港澳）航空客货邮运输业务，以及与航空运输相 关的服务 ...