China's Hainan Airlines will transfer 48% of Tainjan Airlines to HNA Group in a transaction said to be worth CNY6.7 billion (approximately $946.7 million).
With this deal, HNA Group become the largest shareholder of Tainjin Airlines holding 47.8% with the remaining 4.2% to be held by the Tianjin Free Trade Zone Investment Holding Group.
It's said that the transaction will allow Tianjin Airlines to benefit from the development, with resources from its new owner.
Related posts
airBaltic submits development plan to ministers
14th December 2011