HNA looks to tap into Portuguese airline

Chinese conglomerate HNA Group, which owns ground handler Swissport[1], is preparing to take a stake of up to 20% in Portuguese national airline TAP[2], according to French news agency AFP. It is reported that HNA will buy an initial 7% stake in Atlantic Gateway, the private consortium that owns 61% of TAP, citing a private shareholder in the southern European carrier, Humerto Pedrosa, adding that its direct and indirect stake could reach 20%. HNA is on the acquisition trail, having already bought Gategroup[3] Holding, the world s second-largest airline catering company, for $1.5bn in April.

The Chinese aviation and tourism group also took a strategic 23.7% stake worth $450m in Azul Brazilian Airlines[4] in November last year.

In the same month as the Azul deal, Brussels regulators approved HNA s SFr2.73bn acquisition of airport ground handler Swissport.


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