Chinese Internet tourism services provider Tuniu.com officially confirmed that Hainan Airlines Tourism Group has made a USD500 million investment in the company.
On the completion of the transaction, Hainan Airlines Tourism Group will become the largest shareholder of Tuniu.com with about 24.1% of the shares.
Tuniu announced in May 2015 that the company received total new investments of USD500 million, including USD350 million from JD.com. With that investment, JD.com became the largest shareholder of Tuniu with a 27.5% stake and the e-commerce company also gained one position on the board of Tuniu. However, only after six months, JD was replaced by Hainan Airlines Tourism Group in this new capital infusion.
By the end of 2014, Hainan Airlines Tourism Group had total assets of CNY115 billion and the group realized revenue of over CNY36.8 billion during 2014.
Tuniu revealed that after Hainan Airlines Tourism's strategic investment in Tuniu, the two parties will implement in-depth cooperation in online tourism, airline, and hotel services.