(Yicai Global) Nov. 21 -- Urumqi Air, a cash-strapped airline under Chinese conglomerate HNA Group, has received its second bailout from the local government this year.

The firm's direct parent, Hainan Airlines Holding, has signed an equity restructuring deal with the Urumqi Municipal Government, it said in a statement on Nov. 19. The state will take a 70 percent share of Urumqi Air's equity under the agreement, with Hainan Airlines holding all of the remainder. The statement did not give the actual value of the injection and implied it could come in the form of cash, assets related to aviation operations or equity.

In March, state-owned Urumqi City Construction Investment gave CNY450 million (USD65 million) in the form of cash, land and other assets, to Urumqi Air. The injection did not revoke Hainan Airlines' controlling stake in the subsidiary, which was 70 percent before this initial bailout.

The holding company also received CNY400 million in government support for one of its regional carriers, Tianjin Airlines, in February. The parent owns nine airlines in total.

After the latest injection from Urumqi authorities, the government will get to recommend a new chairman though Hainan Airlines will retain the right to hire the firm's general manager.

Founded four years ago, Urumqi Air has 16 aircrafts flying 46 domestic and international routes. It lost CNY500 million (USD72 million) in the first half, but still made plans this month to buy two new planes from Commercial Aircraft Corp. of China this year, and another three in 2019.

Editor: James Boynton