HNA Group subsidiary Hainan Airlines has completed a deal for a 23.7% stake in Brazil’s Azul Airlines, with a $450 million investment. Haikou, China-based Hainan is also expected to appoint three members to Azul’s board. According to a company statement, both carriers will also cooperate to develop a global networking synergy in the fields of codesharing, new route development, frequent flyer program, marketing programs and cargo. Moreover, the two airlines are expected to ...

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