China’s Hainan Airlines plans to take a 23% shareholding in TAP Portugal, with a bond buy from Azul Brazilian Airlines, in a €30 million ($33 million) transaction. According to a statement from the Shanghai Stock Exchange, the Haikou-based Hainan Airlines intends to buy the stake in TAP through the purchase of 25% convertible bonds from the Brazilian low-cost carrier. Azul bought $100 million of bonds from TAP in March 2016, giving it a 40% potential interest in the Portuguese ...

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