Hainan Airlines is close to completing a deal for a 70% stake in Hong Kong carrier CR Airways, which made waves earlier this week with its order for 10 787s and 30 737-800s (ATWOnline, Dec. 21). Previous reports indicated Hainan will acquire 60% of the nascent Regional, Reuters reported. It reportedly will pay HKD350 million ($45.1 million) for the stake and hold it through a company incorporated in Hong Kong. The other 30% will be held by CR Airways founder Robert Yip.

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