HNA Group subsidiary Hainan Airlines has completed the acquisition of a 48.2% stake in Tianjin Airlines, also an HNA subsidiary. The deal makes Hainan Airlines the controlling stakeholder in the Tianjin-based carrier with an 87.3% stake. Hainan purchased a 39.1% stake in Tianjin in 2013 and 2014 through a cash investment in an effort to increase Tianjin’s competitiveness. In September 2016, Hainan collected more than CNY16.5 billion ($2.4 billion) by circulating nonpublic A shares on ...

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