On 27 June 2003, CR Airways became Hong Kong's third passenger airline after receiving a revised AOC from the Director of Civil Aviation. It flew its first passenger service the next day. It started passenger charter operations to Laoag, Philippines on 5 July 2003, with a Bombardier CRJ200 leased from GE Capital Aviation Services. In September 2003, the airline applied for traffic rights to operate scheduled passenger services to Laoag and Chinese cities of Jinan, Naning, Meixian and Wenzhou. In addition, Robert Yip sold 40 percent of the airline to his company, China Rich Holdings, for HK$180 million. By March 2004, the airline had added Siem Reap, Cambodia to its charter network.