China’s Hainan Airlines will transfer 48% of its subsidiary Tianjin Airlines to parent company HNA Group in a transaction worth CNY6.7 billion ($946.7 million). The sale, at CNY1.7 per share, will make HNA the largest shareholder of Tianjin Airlines, leaving Hainan holding 47.8%, with the remaining 4.2% held by the Tianjin Free Trade Zone Investment Holding Group. The move was made to align with the central government’s plan to promote the Beijing-Tianjin-Hebei region as a ...

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