HNA Group is selling down its share in Urumqi Airlines to 30%, with the Urumqi city government taking the remaining stake. The transaction will reverse the relative stakes that the two parties held when they set up the carrier at the far northwestern Chinese city in 2014. HNA gave no timing for the transaction in its Nov. 20 announcement. The value was also undisclosed. The payment may be made in cash or kind, it said. If payment is made in kind, the items will be related to airline ...

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