HNA steps up core divestments with Urumqi Airlines sale[size=0.8em]By Don Weinland in Hong Kong
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HNA, the sprawling Chinese conglomerate, is stepping up divestments and cancelling deals for airline services as it sheds tens of billions of dollars worth of assets including many of its core airline businesses.
The company said this week that it would sell down its controlling stake in Urumqi Airlines from 70 per cent to 30 per cent. The Urumqi government will take on HNA’s shares.