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HNA Unit Hainan Airlines Is Increasing Stakes in Three Carriers

A Hainan Airlines aircraft with the Kung Fu Panda livery at the China International Aviation & Aerospace Exhibition in Zhuhai in 2016.
Photographer: Qilai Shen/Bloomberg

Hainan Airlines Holding Co., a unit of China’s HNA Group Co., moved to increase its stakes in three domestic carriers for 5.6 billion yuan ($850 million), continuing a buying spree as Beijing steps up scrutiny of the parent company’s acquisitions.

Hainan Airlines plans to buy 10.3 percent of China Xinhua Airline Group Co., 37.6 percent of Changan Airlines and 49.4 percent of Shanxi Airlines Co. from minority holders, the carrier said in a filing to the Shanghai stock exchange. Part of the investment is from another HNA affiliate, according to the filing.