Hainan Airlines to purchase Azul's 255 convertible bonds in TAP

Hainan Airlines announced (18-Jul-2016) plans to use EUR30 million of its own funds to purchase Azul's 25% convertible bonds in TAP Portugal. Following completion of this transaction, Hainan Airlines' economic interest in TAP Portugal will increase to 23%, allowing it one seat on TAP's 12-member board. [more - original PR - Chinese]

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