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China's Hainan Air takes over Anhui airport


BEIJING (XFNews) - Hainan Airlines, in which US-investor George Soros holds an indirect stake, has signed an agreement to take over Anqing Airport which is located in the eastern province of Anhui, the Xinhua news agency reported.

No financial details on the deal were provided.

Xinhua said that Hainan Airlines currently has eight airports under its control in the country.

George Soros's American Aviation said earlier this week that it has signed an agreement to invest a further 25 mln usd in Hainan Airlines, which will increase its stake beyond its current level of 14.8%.

It did not disclose how large the new stake will be.

It said the funds will be used to reorganize Hainan Airlines and create a new brand, Great Xinhua Group, by merging its Xinhua, Changan and Shanxi airline groups into Hainan.

Anqing is one of the major port cities along the Yangtze River with a population of 6.1 million.

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