International financier George Soros announced he was investing another 25 million US dollars to integrate Hainan Airlines into Xinhua Airlines, the Beijing Daily quoted the Hainan Airlines Company as saying on Tuesday.

According to the reorganization plan, Xinhua Airlines, after merging smaller carriers owned by Hainan Airlines Group, is to become the fourth largest carrier in the country after Air China, China Southern Airlines and China Eastern Airlines.

In 1995 Soros spent 25 million US dollars to purchase 100 million shares of Hainan Airlines.

Hainan Airlines Group, parent of the carrier, has approval from the country's civil aviation regulator to form a new carrier this year by merging Hainan Airlines and its subsidiaries Xinhua Airlines Company, Changan Airlines and Shanxi Airlines Company.

Source: Xinhua