How it started
2001–2006: Early years
Robert Yip (Chinese: 葉光), the chairman of China Rich Holdings, established CR Airways in Hong Kong on 28 March 2001. The airline received its air operator's certificate (AOC) from the Hong Kong Civil Aviation Department (CAD) in 2002, with its first aircraft a Sikorsky S-76C+ helicopter, which could carry 12 passengers and fly at 285 kilometres per hour (177 mph). It was Hong Kong's third commercial helicopter operator and the first helicopter operator to receive an AOC since Hong Kong became a special administrative region of China.
On 27 June 2003, CR Airways became Hong Kong's third passenger airline after receiving a revised AOC from the director-general of Civil Aviation. It operated its first passenger service the next day. It started passenger charter operations to Laoag, Philippines on 5 July 2003, with a Bombardier CRJ200 leased from GE Capital Aviation Services. In September 2003, the airline applied for traffic rights to operate scheduled passenger services to Laoag and the Chinese cities of Jinan, Naning, Meixian and Wenzhou. In addition, Yip sold 40% of the airline to his company, China Rich Holdings, for HK$180 million. By March 2004, the airline had added Siem Reap, Cambodia to its charter network.
In April 2005, the Hong Kong Air Transport Licensing Authority (ATLA) granted a five-year licence to transport passengers, cargo, and mail to China; the airline was free to apply for traffic rights to 10 cities in China. Then in July, the airline announced the imminent purchase of two Bombardier CRJ700s from Danish carrier Maersk Air. At the end of the year, a memorandum of understanding with Boeing for the purchase of 10 Boeing 787 Dreamliners and 30 Boeing 737-800s for US$3.28 billion took the business to the next level. Some of the aircraft were from a prior Hainan Airlines order.
2006–2010: Change of ownership and fleet expansion
On 27 June 2006, Hainan Airlines secured a 45% holding in the airline by purchase of convertible notes held by Yu Ming Investments, which was to be injected into its new airline holding company, Grand China Air. Two months later, Mung Kin-keung (蒙建強) acquired the remaining 55% of the airline and became the controlling shareholder on 7 August and its director on 13 August. Mung's previous main business interest had been a 30% holding in a restaurant operator, Banana Leaf (Asia Pacific) Catering Group Company Ltd.
From Wikipedia’s article on Hong Kong Airlines, shared under CC BY-SA 4.0.2