Cambodia Angkor Air has announced it will operate 10 planes in Haikou and establish a base in the city after the establishment of the Free Trade Port in Hainan has seen rapid investment and expansion.
The Free Trade Port (FTP) in Hainan was established in 2018 and has recently signed agreements for 104 projects in the region, 22 of which are foreign-funded. These projects involve USD $10.06 billion in total investments and cover industries such as tourism, and high-tech.
Other high profile companies that are operating in the FTP include Harrow School, Tesla and TUI Group.
The Seventh Freedom of the Air was signed in Hainan which allowed for aircraft passenger carriers to operate flights between two foreign countries – without the need to touch down in the airline’s home country. This means the airlines in Haikou can target major cities in Northeast Asia, Russia and ASEAN reported the Khmer Times.
This is what Cambodia Angkor Air hopes to take advantage of with its fleet, said David Zhan, board director of the company. Cambodia Angkor Air received new private equity investors in 2020 after 49 per cent of its shares, owned by Vietnam Air, was sold for USD $49 million.
Cambodia Angkor Air was established in 2009, and at the start of 2020 (before the impact of the global COVD-19 pandemic), Cambodia Angkor Air had flight routes domestically and internationally to the Republic of China (Beijing, Guangzhou, Shanghai, Hangzhou, and Haikou), Vietnam (Ho Chi Minh City) and Danang.
In April 2021, the airline had also requested flights between Macau and Phnom Penh, Cambodia, but these flights could change, subject to the airlines’ final arrangement.