China’s Hainan Airlines transfers 48% of Tainjan Airlines

Darren Wood
By Darren Wood October 18, 2019 19:24

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.

Darren Wood
By Darren Wood October 18, 2019 19:24