Hainan Airlines proclaimed that they have voted Zhu Yimin as the board chairman of the Fifth Directorate and Wang Yingming as the vice chairman through the solution of HNA Group the twelfth directorate conference.
On November 1st, HNA Group announced that they will adjust the number of directorate members from 9 to 7, and Chen Feng and other four will no longer be the directors, according to proposal by key shareholders. In consequence, Chen Feng expressed open that his demission is due to the forming of Grand China Airlines.

At present, the former Xinhua Airlines of China Holding Co., Ltd. has changed the name into Grand China Airlines Holding Co., Ltd. The registered place is in Haikou while the operation base is in Beijing. Grand China Airlines will unify four existing airlines holding by HNA Group, including Hainan Airlines, Xinhua Airlines of China, Chang’an Airlines and Shanxi Airlines. This new company possesses a registered capital of RMB 3.085 billion yuan, and Hainan Provincial Government holds its 48.61% shares, Soros Fund holds 18.64%, and HNA Group and other two accordant actionists hold the rest 32.75%. Grand China Airlines is planning to choose Beijing Capital International Airport as the base, to lease three Boeing 737-800 aircrafts from Hainan Airlines, and to perform both international and domestic passenger and cargo air transport business.

As far as known, Zhu Yimin used to be the president of Hainan Airlines. From 1983 to 1987, he held a post in CAUC (Civil Aviation University of China), from 1987 to August of 2001, he was the senior manager of Xiamen Airlines, and he joined in Hainan Airlines since September, 2001.