HNA subsidiary, Caissa Travel Group, has abandoned plans to acquire HNA Group’s shareholding in Capital Airlines. The travel firm failed to secure the requisite regulatory approvals on time and has now abandoned plans to acquire the airline. It said in an exchange announcement however that it is proceeding with plans to raise CNY8 billion (USD1.2 billion) through a private share placement.
Caissa Travel Group abandons Capital Airlines purchase
HNA subsidiary, Caissa Travel Group, has abandoned plans to acquire HNA Group’s shareholding in Capital Airlines. The travel firm failed to secure the requisite regulatory approvals on time and has now abandoned plans to acquire the airline. It said in an exchange announcement however that it is proceeding with plans to raise CNY8 billion (USD1.2 billion) through a private share placement.