Vancouver’s Harbour Air, the largest seaplane airline in the world, has sold a minority stake in the company to Zongshen Group, an aviation industry investment firm.
Zongshen has made this move in an effort to bring the commuter seaplane service to major cities in China, as the Asian country has just changed its laws to allow low-altitude commercial flights.
“China’s rate of urbanization creates enormous demands for innovative transportation needs,” said Zongshen founder Zuo Zongshen, a Chinese billionaire who began his career as a motorcycle mechanic.
“In partnership with Harbour Air, we will bring this unique airline model to China to give the Chinese people an efficient, affordable and sustainable way to travel and connect with each other.”
Many residents in China live nowhere near an airport, but they do live near waterways where seaplanes would be able to operate.
Harbour Air said 75% of voting shares will remain Canadian-owned and that the move will not affect its day-to-day functioning.
“Harbour Air will continue to be operated as it always has been, with a commitment to service, safety and sustainability that leads the industry,” said Harbour Air founder Greg McDougall, who will continue his role as CEO.
