China’s Hainan Airlines transfers 48% of Tainjan Airlines

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.