Aviation News
- Hainan Air to buy stake in trust firm
Date: 13-Dec-2007 Sources: (Shenzhen Daily)
HAINAN Airlines Co. said yesterday it planned to buy 284 million shares, or a 39.14 percent stake, in domestic trust firm Hebei International Trust & Investment Co. from sister company HNA Group for 829.28 million yuan (US$112.06 million).
Hainan Airlines also said in a statement it planned to buy 29.77 million shares, or a 0.92 percent stake, in local brokerage China Merchants Securities Co. at 20 yuan a share from HNA Group unit HNA Hotels & Resorts Group. Additionally, Hainan Airlines said it planned to lease three B737-800s jets to its parent Grand China Air for US$500,000 a month each.
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