ESMA Aviation Academy takeover by Hainan Group

Following a 15 months period under chapter 11 during which a massive restructuring policy has been implemented. ESMA is, since the 12th of August 2013, a subsidiary of the Chinese group Hainan Group (HNA) through its subsidiary HNA Europe. HNA Group, whose head office is located in Haikou capital of Hainan province in southern China, includes amongst its many activities (air transport, tourism, real estate, industry) the 4th Chinese airline company operating about 300 aircrafts, essentially to international destinations from China and employs more than 80.000 employees around the world. The strength and the ambition of its new shareholder will allow ESMA, already leader in the field of aeronautical training, to pursue its marketing strategy focused on the domestic market and the North African market (Maghreb). The opening towards Africa, already engaged through the contracts signed with Equatorial Guinea and Chad, together with the advanced contacts with Nigeria and Gabon which will be intensified. New president of ESMA, Olivier Georges, stemming of the banking and financial environment, particularly in the area of large companies financing, has a wealth training experience in the field of economics.