Chinese purchase 23.7% of airline owned by TAP boss

Chinese group HNA has just purchased almost a quarter of the capital of Azul Airlines, the Brazilian company owned by TAP shareholder and joint owner David Neeleman. The €427.8 million deal sets the company’s worth at €1.76 billion, turning Azul into one of the most valuable on the Brazilian market, reports Económico. Neeleman has said it also signals the launch of Azul into Asia.

The deal follows the purchase of 5% of Azul earlier this year by United Airlines for €100 million.